Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced its earnings results on Thursday. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.10, MarketWatch Earnings reports. Old Dominion Freight Line had a net margin of 9.92% and a return on equity of 16.52%. The business had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year.

Old Dominion Freight Line (NASDAQ:ODFL) traded down 3.98% on Thursday, reaching $96.40. 771,926 shares of the company traded hands. The company has a 50-day moving average price of $96.05 and a 200-day moving average price of $89.79. Old Dominion Freight Line has a 12 month low of $66.33 and a 12 month high of $103.51. The company has a market capitalization of $7.95 billion, a P/E ratio of 26.46 and a beta of 1.08.

ODFL has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. Vertical Research reiterated a “hold” rating and set a $83.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Cowen and Company increased 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. Bank of America Corporation upgraded shares of 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. Finally, BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Old Dominion Freight Line currently has an average rating of “Buy” and a consensus target price of $96.78.

Several large investors have recently made changes to their positions in the stock. SRS Capital Advisors Inc. increased its stake in shares of 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 worth $111,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Old Dominion Freight Line by 115.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock worth $115,000 after buying an additional 647 shares in the last quarter. IFP Advisors Inc increased its stake in shares of 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 worth $157,000 after buying an additional 34 shares in the last quarter. Private Advisor Group LLC purchased a new position in Old Dominion Freight Line during the first quarter worth about $166,000. Finally, Atria Investments LLC raised its position 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 worth $237,000 after buying an additional 69 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

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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.

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

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