Old Dominion Freight Line’s (ODFL) “Hold” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their hold rating on shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in a report issued on Friday. Robert W. Baird currently has a $113.00 price target on the transportation company’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Old Dominion Freight Line from a buy rating to a hold rating in a report on Wednesday, August 2nd. BidaskClub raised Old Dominion Freight Line from a hold rating to a buy rating in a report on Thursday, June 15th. Stifel Nicolaus reissued a hold rating and set a $91.00 price objective on shares of Old Dominion Freight Line in a report on Friday, July 14th. Cowen and Company reissued a hold rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a report on Friday, September 1st. Finally, Buckingham Research began coverage on Old Dominion Freight Line in a report on Monday, August 21st. They set a neutral rating and a $105.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $100.75.

Shares of Old Dominion Freight Line (ODFL) opened at 108.78 on Friday. Old Dominion Freight Line has a 1-year low of $68.82 and a 1-year high of $110.45. The firm has a market capitalization of $8.96 billion, a P/E ratio of 28.17 and a beta of 1.09. The stock has a 50 day moving average of $102.11 and a 200-day moving average of $93.68.

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 Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Old Dominion Freight Line’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Old Dominion Freight Line will post $4.14 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of Old Dominion Freight Line by 0.3% during the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 14 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Old Dominion Freight Line by 0.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock valued at $534,000 after purchasing an additional 49 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Old Dominion Freight Line by 1.9% during the second quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock valued at $710,000 after purchasing an additional 140 shares during the period. First Quadrant L P CA boosted its stake in shares of Old Dominion Freight Line by 0.4% during the second quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock valued at $3,190,000 after purchasing an additional 140 shares during the period. Finally, Atria Investments LLC boosted its stake in shares of Old Dominion Freight Line by 5.5% during the second quarter. Atria Investments LLC now own

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Old Dominion Freight Line from a buy rating to a hold rating in a report on Wednesday, August 2nd. BidaskClub raised Old Dominion Freight Line from a hold rating to a buy rating in a report on Thursday, June 15th. Stifel Nicolaus reissued a hold rating and set a $91.00 price objective on shares of Old Dominion Freight Line in a report on Friday, July 14th. Cowen and Company reissued a hold rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a report on Friday, September 1st. Finally, Buckingham Research began coverage on Old Dominion Freight Line in a report on Monday, August 21st. They set a neutral rating and a $105.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $100.75.

Shares of Old Dominion Freight Line (ODFL) opened at 108.78 on Friday. Old Dominion Freight Line has a 1-year low of $68.82 and a 1-year high of $110.45. The firm has a market capitalization of $8.96 billion, a P/E ratio of 28.17 and a beta of 1.09. The stock has a 50 day moving average of $102.11 and a 200-day moving average of $93.68.

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 Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Old Dominion Freight Line’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Old Dominion Freight Line will post $4.14 earnings per share for the current year.

WARNING: This piece of content was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/old-dominion-freight-lines-odfl-hold-rating-reiterated-at-robert-w-baird.html.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.00% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in shares of Old Dominion Freight Line by 0.3% during the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 14 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Old Dominion Freight Line by 0.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock valued at $534,000 after purchasing an additional 49 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Old Dominion Freight Line by 1.9% during the second quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock valued at $710,000 after purchasing an additional 140 shares during the period. First Quadrant L P CA boosted its stake in shares of Old Dominion Freight Line by 0.4% during the second quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock valued at $3,190,000 after purchasing an additional 140 shares during the period. Finally, Atria Investments LLC boosted its stake in shares of Old Dominion Freight Line by 5.5% during the second quarter. Atria Investments LLC now owns 2,925 shares of the transportation company’s stock valued at $279,000 after purchasing an additional 153 shares during the period. 73.84% of the stock is owned by hedge funds and other institutional investors.

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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