Brokerages expect Old Dominion Freight Line, Inc. (NASDAQ:ODFL) to report $823.70 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Old Dominion Freight Line’s earnings, with estimates ranging from $815.80 million to $832.00 million. Old Dominion Freight Line posted sales of $755.44 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $823.70 million for the current year, with estimates ranging from $3.18 billion to $3.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.53 billion per share, with estimates ranging from $3.32 billion to $3.81 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, April 27th. The transportation company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The company had revenue of $754.10 million during the quarter, compared to analyst estimates 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 was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share.

Several brokerages have recently commented on ODFL. BidaskClub raised Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, July 11th. Finally, Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $96.78.

ILLEGAL ACTIVITY NOTICE: “Zacks: Analysts Anticipate Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Will Announce Quarterly Sales of $823.70 Million” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/21/zacks-analysts-anticipate-old-dominion-freight-line-inc-nasdaqodfl-will-announce-quarterly-sales-of-823-70-million.html.

Shares of Old Dominion Freight Line (ODFL) traded up 0.32% during midday trading on Friday, reaching $97.45. The company’s stock had a trading volume of 469,220 shares. Old Dominion Freight Line has a 52 week low of $64.99 and a 52 week high of $100.61. The stock has a market capitalization of $8.03 billion, a PE ratio of 26.75 and a beta of 1.08. The stock has a 50-day moving average price of $95.11 and a 200 day moving average price of $89.42.

A number of hedge funds have recently added to or reduced their stakes in ODFL. GSA Capital Partners LLP purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $284,000. Teachers Advisors LLC boosted its stake in Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock worth $7,213,000 after buying an additional 24,415 shares during the last quarter. Bank of Montreal Can boosted its stake in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock worth $3,469,000 after buying an additional 36,224 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock worth $626,000 after buying an additional 150 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Old Dominion Freight Line during the first quarter worth about $286,000. 74.66% of the stock is owned by hedge funds and other 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.

Get a free copy of the Zacks research report on Old Dominion Freight Line (ODFL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

Receive News & Ratings for Old Dominion Freight Line Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line Inc. and related companies with MarketBeat.com's FREE daily email newsletter.