Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received a consensus rating of “Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $93.86.

A number of research firms have weighed in on ODFL. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. 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. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. 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. Finally, Cowen and Company raised their target price on shares of 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.

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Several hedge funds have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. raised its stake in Old Dominion Freight Line by 18.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock valued at $111,000 after buying an additional 200 shares during the last quarter. IFP Advisors Inc raised its stake in Old Dominion Freight Line by 1.9% in the first quarter. IFP Advisors Inc now owns 1,839 shares of the transportation company’s stock valued at $157,000 after buying an additional 34 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Old Dominion Freight Line during the first quarter valued at approximately $166,000. Cigna Investments Inc. New purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $216,000. Finally, Atria Investments LLC raised its stake in Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock valued at $237,000 after buying an additional 69 shares during the last quarter. 74.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Old Dominion Freight Line (ODFL) opened at 92.14 on Monday. The company has a 50 day moving average price of $89.27 and a 200-day moving average price of $88.15. The stock has a market capitalization of $7.60 billion, a P/E ratio of 25.29 and a beta of 1.05. Old Dominion Freight Line has a 52-week low of $56.74 and a 52-week high of $96.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a net margin of 9.92% and a return on equity of 16.52%. The business had revenue of $754.10 million for the quarter, compared to analyst estimates of $751.84 million. During the same period last year, the company posted $0.72 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line will post $3.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, June 2nd. Old Dominion Freight Line’s payout ratio is presently 10.99%.

Old Dominion Freight Line Company Profile

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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