Old Dominion Freight Line Hits New 1-Year High at $69.85 (ODFL)
Old Dominion Freight Line (NASDAQ:ODFL)’s share price hit a new 52-week high during trading on Thursday , AnalystRatingsNetwork reports. The company traded as high as $69.85 and last traded at $69.53, with a volume of 156,403 shares changing hands. The stock had previously closed at $68.88.
A number of analysts have recently weighed in on ODFL shares. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Old Dominion Freight Line in a research note on Wednesday. They now have a $74.00 price target on the stock, up previously from $70.00. Separately, analysts at RBC Capital raised their price target on shares of Old Dominion Freight Line from $68.00 to $72.00 in a research note on Friday, August 1st. Finally, analysts at Morgan Stanley raised their price target on shares of Old Dominion Freight Line from $65.00 to $67.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $65.44.
The stock has a 50-day moving average of $64.64 and a 200-day moving average of $60.54. The company has a market cap of $6.013 billion and a price-to-earnings ratio of 26.19. Old Dominion Freight Line also saw a large increase in short interest in August. As of August 15th, there was short interest totalling 860,743 shares, an increase of 53.4% from the July 31st total of 561,070 shares. Based on an average daily volume of 395,287 shares, the short-interest ratio is currently 2.2 days. Approximately 1.3% of the company’s shares are short sold.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $691.76 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line will post $2.94 earnings per share for the current fiscal year.
Old Dominion Freight Line, Inc (NASDAQ:ODFL), incorporated on March 22, 1999, is a less-than-truckload (LTL) motor carrier providing regional, inter-regional and national LTL service and logistics services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.