Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other equities research analysts have also recently commented on ODFL. Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $83.00 to $96.00 in a research note on Tuesday, June 6th. Zacks Investment Research cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Wednesday, March 8th. Cowen and Company increased their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Credit Suisse Group reissued an “outperform” rating and issued a $96.00 target price (up from $92.00) on shares of Old Dominion Freight Line in a research note on Monday, March 6th. Finally, Vertical Research reissued a “hold” rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Old Dominion Freight Line presently has an average rating of “Buy” and an average price target of $94.63.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ ODFL) traded up 0.04% during mid-day trading on Thursday, reaching $94.22. 346,501 shares of the company traded hands. The company’s 50-day moving average is $88.63 and its 200-day moving average is $87.95. Old Dominion Freight Line has a 12-month low of $56.74 and a 12-month high of $96.46. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 25.86 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The company had revenue of $754.10 million for the quarter, compared to analysts’ expectations of $751.84 million. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts predict that Old Dominion Freight Line will post $3.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 10.99%.

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Several large investors have recently added to or reduced their stakes in ODFL. Russell Investments Group Ltd. acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $4,769,000. State Board of Administration of Florida Retirement System boosted its stake in Old Dominion Freight Line by 2.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 70,896 shares of the transportation company’s stock valued at $6,082,000 after buying an additional 1,551 shares during the period. Comerica Bank boosted its stake in Old Dominion Freight Line by 6.2% in the fourth quarter. Comerica Bank now owns 52,518 shares of the transportation company’s stock valued at $4,634,000 after buying an additional 3,062 shares during the period. FMR LLC boosted its stake in Old Dominion Freight Line by 1.1% in the fourth quarter. FMR LLC now owns 1,391,630 shares of the transportation company’s stock valued at $119,389,000 after buying an additional 14,740 shares during the period. Finally, Keybank National Association OH acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $589,000. 74.95% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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