Cowen and Company reiterated their hold rating on shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in a report published on Friday. The firm currently has a $100.00 price target on the transportation company’s stock.

ODFL has been the topic of several other reports. Credit Suisse Group restated an outperform rating and set a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG downgraded Old Dominion Freight Line from a buy rating to a hold rating and lowered their price target for the company from $108.00 to $98.00 in a report on Monday, July 31st. BidaskClub upgraded Old Dominion Freight Line from a sell rating to a hold rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 price target for the company in a report on Tuesday, July 11th. Finally, Buckingham Research assumed coverage on Old Dominion Freight Line in a report on Monday, August 21st. They issued a neutral rating and a $105.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $99.20.

Old Dominion Freight Line (ODFL) traded up 0.40% during midday trading on Friday, hitting $100.20. The stock had a trading volume of 360,871 shares. The company has a 50-day moving average price of $96.99 and a 200-day moving average price of $91.27. Old Dominion Freight Line has a 12-month low of $66.33 and a 12-month high of $103.51. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 25.95 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $824.68 million. During the same period in the previous year, the business earned $0.98 EPS. Old Dominion Freight Line’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line will post $4.14 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

In related news, Vice Chairman David S. Congdon sold 575 shares of the business’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 transaction of $56,252.25. Following the completion of the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ODFL. Laurion Capital Management LP acquired a new position in Old Dominion Freight Line during the 1st quarter worth $975,000. Pacer Advisors Inc. boosted its position in Old Dominion Freight Line by 11.4% during the 2nd quarter. Pacer Advisors Inc. now owns 12,184 shares of the transportation company’s stock worth $1,160,000 after acquiring an additional 1,243 shares during the period. Bank of Montreal Can boosted its position in Old Dominion Freight Line by 838.5% during the 1st quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock worth $3,469,000 after acquiring an additional 36,224 shares during the period. Whittier Trust Co. boosted its position in Old Dominion Freight Line by 2.6% during the 2nd quarter. Whittier Trust Co. now owns 31,821 shares of the transportation company’s stock worth $3,031,000 after acquiring an additional 809 shares during the period. Finally, Legal & General Group Plc boosted its position in Old Dominion Freight Line by 54.5% during the 1st quarter. Legal & General Group Plc now owns 67,994 shares of the transportation company’s stock worth $5,819,000 after acquiring an additional 23,994 shares during the period. Institutional investors and hedge funds own 73.92% of the company’s stock.

Old Dominion Freight Line Company Profile

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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