Old Dominion Freight Line (NASDAQ:ODFL) Shares Up 5%

Old Dominion Freight Line (NASDAQ:ODFL) shares shot up 5% during mid-day trading on Friday . The stock traded as high as $151.09 and last traded at $149.95, 486,159 shares were traded during mid-day trading. A decline of 1% from the average session volume of 490,131 shares. The stock had previously closed at $142.80.

Several brokerages recently issued reports on ODFL. Mizuho began coverage on Merck & Co., Inc. in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $97.00 price objective for the company. Credit Suisse Group set a $82.00 price objective on InterXion and gave the company a “buy” rating in a research report on Thursday. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Citigroup boosted their price objective on Vistra Energy from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Bank of America set a $7.00 price objective on CannTrust and gave the company a “buy” rating in a research report on Thursday, June 20th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $148.45.

The stock has a market cap of $11.54 billion, a PE ratio of 20.32, a P/E/G ratio of 2.25 and a beta of 1.48. The stock’s 50 day moving average is $142.01. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 25th. The transportation company reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.06. The firm had revenue of $990.78 million for the quarter, compared to analysts’ expectations of $1 billion. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, research analysts forecast that Old Dominion Freight Line will post 7.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Tuesday, June 4th. Old Dominion Freight Line’s payout ratio is 9.21%.

Old Dominion Freight Line announced that its board has approved a stock buyback plan on Thursday, May 16th that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cordasco Financial Network raised its stake in shares of Old Dominion Freight Line by 77.2% during the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $36,000. CWM LLC raised its stake in shares of Old Dominion Freight Line by 42.5% during the 1st quarter. CWM LLC now owns 258 shares of the transportation company’s stock worth $37,000 after purchasing an additional 77 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $42,000. Finally, Claybrook Capital LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.

Old Dominion Freight Line Company Profile (NASDAQ:ODFL)

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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