Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $98.00.

A number of research analysts have recently commented on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $109.00 price objective (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. Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their target price for the stock from $108.00 to $98.00 in a report on Monday, July 31st. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, July 11th. Finally, Buckingham Research began coverage on shares of Old Dominion Freight Line in a report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price objective for the company.

In related news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares in the company, valued at $930,950.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.00% of the company’s stock.

A number of large investors have recently modified their holdings of ODFL. BlackRock Inc. boosted its position in Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock worth $462,150,000 after purchasing an additional 5,353,843 shares during the period. Janus Henderson Group PLC bought a new position in Old Dominion Freight Line during the second quarter worth about $266,855,000. William Blair Investment Management LLC boosted its position in Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after purchasing an additional 191,911 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Old Dominion Freight Line by 8.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after purchasing an additional 157,362 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after purchasing an additional 151,407 shares during the period. Hedge funds and other institutional investors own 73.92% of the company’s stock.

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Shares of Old Dominion Freight Line (NASDAQ ODFL) opened at 101.93 on Friday. Old Dominion Freight Line has a 52 week low of $66.33 and a 52 week high of $103.51. The firm’s 50-day moving average is $97.18 and its 200 day moving average is $91.51. The firm has a market capitalization of $8.40 billion, a P/E ratio of 26.40 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts forecast that Old Dominion Freight Line will post $4.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

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.

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

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