Old Dominion Freight Line (ODFL) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

Other research analysts have also recently issued reports about the company. ValuEngine upgraded Old Dominion Freight Line from a hold rating to a buy rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $166.00 price target for the company in a research report on Thursday, May 24th. Argus initiated coverage on Old Dominion Freight Line in a research report on Wednesday, May 23rd. They set a buy rating and a $175.00 price target for the company. Stifel Nicolaus reiterated a hold rating on shares of Old Dominion Freight Line in a research report on Friday, July 27th. Finally, Cowen lifted their price target on Old Dominion Freight Line from $145.00 to $156.00 and gave the company a market perform rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $147.38.

Shares of NASDAQ:ODFL opened at $165.89 on Tuesday. Old Dominion Freight Line has a 52-week low of $99.50 and a 52-week high of $170.22. The stock has a market capitalization of $13.66 billion, a PE ratio of 29.33, a PEG ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.17. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. Old Dominion Freight Line’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. equities analysts predict that Old Dominion Freight Line will post 6.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Wednesday, September 5th. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Financial Counselors Inc. grew its holdings in Old Dominion Freight Line by 4.1% in the second quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock valued at $1,384,000 after purchasing an additional 363 shares during the period. OppenheimerFunds Inc. grew its holdings in Old Dominion Freight Line by 5.2% in the second quarter. OppenheimerFunds Inc. now owns 7,370 shares of the transportation company’s stock valued at $1,098,000 after purchasing an additional 363 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Old Dominion Freight Line by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock valued at $10,528,000 after purchasing an additional 370 shares during the period. Alps Advisors Inc. grew its holdings in Old Dominion Freight Line by 5.0% in the second quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock valued at $1,199,000 after purchasing an additional 381 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in Old Dominion Freight Line by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the transportation company’s stock valued at $2,741,000 after purchasing an additional 400 shares during the period. 72.37% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Company Profile

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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