Wall Street analysts expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will report sales of $855.60 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Old Dominion Freight Line’s earnings. The highest sales estimate is $868.70 million and the lowest is $846.60 million. Old Dominion Freight Line reported sales of $782.61 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The company is scheduled to report its next earnings results before the market opens on Thursday, October 26th.

On average, analysts expect that Old Dominion Freight Line will report full-year sales of $855.60 million for the current year, with estimates ranging from $3.23 billion to $3.30 billion. For the next year, analysts anticipate that the company will post sales of $3.55 billion per share, with estimates ranging from $3.43 billion to $3.62 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Old Dominion Freight Line.

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 the Zacks’ consensus estimate of $1.10 by $0.09. The company had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share.

A number of brokerages recently issued reports on ODFL. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a report on Tuesday, October 3rd. Bank of America Corporation cut shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $105.00 to $102.00 in a report on Tuesday, October 10th. They noted that the move was a valuation call. Robert W. Baird reiterated a “hold” rating and issued a $113.00 price objective on shares of Old Dominion Freight Line in a report on Friday, October 6th. KeyCorp reiterated a “buy” rating and issued a $115.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, October 12th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $119.00 price objective (up from $110.00) on shares of Old Dominion Freight Line in a report on Thursday, October 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $103.75.

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In other news, Vice Chairman David S. Congdon sold 575 shares of the company’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 transaction, the insider now owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of Old Dominion Freight Line by 115.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock valued at $115,000 after buying an additional 647 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $157,000. Stearns Financial Services Group acquired a new position in shares of Old Dominion Freight Line during the third quarter valued at about $209,000. IFP Advisors Inc raised its position in shares of Old Dominion Freight Line by 12.9% during the second quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock valued at $198,000 after buying an additional 238 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Old Dominion Freight Line during the third quarter valued at about $243,000. 73.84% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line (NASDAQ ODFL) opened at 112.50 on Monday. The firm has a market cap of $9.27 billion, a PE ratio of 29.14 and a beta of 1.09. The firm’s 50 day moving average price is $105.78 and its 200-day moving average price is $95.39. Old Dominion Freight Line has a 52 week low of $68.82 and a 52 week high of $112.50.

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

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