Old Dominion Freight Line (NASDAQ:ODFL) Hits New 1-Year High at $208.37

Old Dominion Freight Line (NASDAQ:ODFL) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $208.37 and last traded at $208.20, with a volume of 15492 shares. The stock had previously closed at $206.07.

ODFL has been the subject of several research analyst reports. Stephens set a $203.00 price objective on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Friday, October 25th. Goldman Sachs Group initiated coverage on Old Dominion Freight Line in a report on Thursday, December 5th. They issued a “sell” rating and a $173.00 price objective for the company. Citigroup set a $185.00 price objective on Old Dominion Freight Line and gave the stock a “hold” rating in a report on Friday, October 25th. Zacks Investment Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $213.00 price objective for the company. in a report on Tuesday. Finally, Argus lifted their price objective on Old Dominion Freight Line to $205.00 and gave the stock a “positive” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $172.69.

The company has a market capitalization of $16.28 billion, a PE ratio of 28.23, a P/E/G ratio of 2.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.03 and a quick ratio of 2.03. The company has a 50-day moving average of $189.58 and a two-hundred day moving average of $174.67.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 24th. The transportation company reported $2.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by ($0.06). Old Dominion Freight Line had a net margin of 15.29% and a return on equity of 22.62%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts anticipate that Old Dominion Freight Line will post 7.65 EPS for the current year.

In other news, Chairman Earl E. Congdon sold 23,500 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $181.94, for a total value of $4,275,590.00. Following the transaction, the chairman now directly owns 10,854 shares in the company, valued at $1,974,776.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. BB&T Securities LLC lifted its position in shares of Old Dominion Freight Line by 6.8% in the third quarter. BB&T Securities LLC now owns 6,140 shares of the transportation company’s stock valued at $1,042,000 after acquiring an additional 389 shares in the last quarter. Resources Management Corp CT ADV bought a new stake in shares of Old Dominion Freight Line in the third quarter worth about $98,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Old Dominion Freight Line in the third quarter worth about $62,770,000. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 0.5% in the second quarter. Vanguard Group Inc. now owns 6,543,803 shares of the transportation company’s stock worth $976,728,000 after purchasing an additional 30,143 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in shares of Old Dominion Freight Line by 4.1% in the second quarter. Pictet Asset Management Ltd. now owns 22,600 shares of the transportation company’s stock worth $3,373,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

Old Dominion Freight Line Company Profile (NASDAQ:ODFL)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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