Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $110.63 and last traded at $110.57, with a volume of 295,771 shares trading hands. The stock had previously closed at $109.65.

Several brokerages recently commented on ODFL. Zacks Investment Research raised shares of 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. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. KeyCorp reissued a “buy” rating and issued a $115.00 price target on shares of Old Dominion Freight Line in a report on Thursday, October 12th. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price target for the stock from $108.00 to $98.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $103.75.

The stock has a 50 day moving average price of $105.12 and a 200-day moving average price of $95.08. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 28.65 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The firm had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post $4.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.39%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction dated 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 in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $282,000. Lord Abbett & CO. LLC lifted its stake in shares of Old Dominion Freight Line by 2.1% in the 2nd quarter. Lord Abbett & CO. LLC now owns 794,605 shares of the transportation company’s stock valued at $75,678,000 after purchasing an additional 16,364 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $590,000. Wasatch Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 5.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 799,843 shares of the transportation company’s stock valued at $76,177,000 after purchasing an additional 39,954 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Old Dominion Freight Line by 0.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 33,124 shares of the transportation company’s stock valued at $3,154,000 after purchasing an additional 304 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors and hedge funds.

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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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