Seaport Global Securities reissued their buy rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note released on Tuesday. Seaport Global Securities also issued estimates for Old Dominion Freight Line’s Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.32 EPS, Q1 2018 earnings at $1.00 EPS, Q2 2018 earnings at $1.38 EPS, Q3 2018 earnings at $1.39 EPS, Q4 2018 earnings at $1.23 EPS, FY2018 earnings at $5.00 EPS, Q1 2019 earnings at $1.15 EPS, Q2 2019 earnings at $1.58 EPS, Q3 2019 earnings at $1.61 EPS and FY2019 earnings at $5.75 EPS.
Several other research firms have also commented on ODFL. ValuEngine lowered shares of Old Dominion Freight Line from a buy rating to a hold rating in a research report on Friday, December 1st. Deutsche Bank downgraded shares of Old Dominion Freight Line from a hold rating to a sell rating and decreased their price objective for the company from $119.00 to $101.00 in a report on Monday. KeyCorp increased their price objective on shares of Old Dominion Freight Line from $125.00 to $138.00 and gave the company an overweight rating in a report on Tuesday. Credit Suisse Group reaffirmed a buy rating and set a $142.00 price objective (up from $128.00) on shares of Old Dominion Freight Line in a report on Wednesday. Finally, Buckingham Research increased their price objective on shares of Old Dominion Freight Line from $105.00 to $127.00 and gave the company a neutral rating in a report on Friday, October 27th. Three equities research 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. The company currently has a consensus rating of Hold and an average price target of $112.00.
Old Dominion Freight Line (NASDAQ ODFL) traded up $1.04 during mid-day trading on Tuesday, reaching $129.63. 1,079,500 shares of the company traded hands, compared to its average volume of 479,212. The firm has a market capitalization of $10,592.72, a price-to-earnings ratio of 31.67, a PEG ratio of 1.88 and a beta of 1.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 52 week low of $80.56 and a 52 week high of $130.71.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The company had revenue of $872.99 million for the quarter, compared to analyst estimates of $855.85 million. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. research analysts predict that Old Dominion Freight Line will post 4.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio is currently 9.85%.
Several large investors have recently bought and sold shares of ODFL. Fieldpoint Private Securities LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth about $100,000. Salem Investment Counselors Inc. lifted its stake in shares of Old Dominion Freight Line by 3,281.3% in the third quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock worth $118,000 after buying an additional 1,050 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth about $123,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Old Dominion Freight Line in the second quarter worth about $157,000. Finally, IFP Advisors Inc lifted its stake in shares of Old Dominion Freight Line by 12.9% in the second quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock worth $198,000 after buying an additional 238 shares in the last quarter. 72.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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