Shares of Old Dominion Freight Line (NASDAQ:ODFL) fell 7.3% during mid-day trading on Thursday . The company traded as low as $131.48 and last traded at $131.71. 1,164,886 shares traded hands during mid-day trading, an increase of 83% from the average session volume of 636,818 shares. The stock had previously closed at $142.01.

A number of research firms have issued reports on ODFL. Cowen reaffirmed a “market perform” rating and issued a $136.00 target price (up previously from $113.00) on shares of Old Dominion Freight Line in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $117.00 target price (up previously from $111.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 13th. Seaport Global Securities reaffirmed a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Buckingham Research lifted their price objective on Old Dominion Freight Line from $144.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday. Finally, KeyCorp lifted their price objective on Old Dominion Freight Line from $125.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday, December 5th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $122.08.

The company has a current ratio of 1.67, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10,590.00, a P/E ratio of 23.12 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, February 8th. The transportation company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The business had revenue of $891.12 million for the quarter, compared to analyst estimates of $879.00 million. Old Dominion Freight Line had a return on equity of 17.37% and a net margin of 13.81%. Old Dominion Freight Line’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. sell-side analysts expect that Old Dominion Freight Line will post 5.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a $0.13 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.52 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s payout ratio is currently 7.10%.

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in Old Dominion Freight Line by 0.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock valued at $534,000 after buying an additional 49 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Old Dominion Freight Line by 31.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,656 shares of the transportation company’s stock valued at $218,000 after buying an additional 393 shares in the last quarter. Mesirow Financial Investment Management Equity Management boosted its stake in Old Dominion Freight Line by 2.7% in the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 15,995 shares of the transportation company’s stock valued at $1,761,000 after buying an additional 425 shares in the last quarter. Canal Capital Management LLC boosted its stake in Old Dominion Freight Line by 0.9% in the 4th quarter. Canal Capital Management LLC now owns 50,066 shares of the transportation company’s stock valued at $6,586,000 after buying an additional 440 shares in the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in Old Dominion Freight Line by 3.7% in the 4th quarter. Waverton Investment Management Ltd now owns 12,416 shares of the transportation company’s stock valued at $1,633,000 after buying an additional 447 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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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.

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