Credit Suisse Group cut shares of Old Dominion Freight Line (NASDAQ:ODFL) from an outperform rating to a neutral rating in a report published on Thursday morning, BenzingaRatingsTable reports.

Other research analysts have also issued reports about the company. Mizuho began coverage on Merck & Co., Inc. in a report on Tuesday, July 2nd. They set a buy rating and a $97.00 target price on the stock. Bank of America set a $7.00 target price on CannTrust and gave the stock a buy rating in a report on Thursday, June 20th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. Citigroup boosted their target price on Vistra Energy from $32.00 to $36.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, BidaskClub raised DENTSPLY SIRONA from a buy rating to a strong-buy rating in a report on Thursday, June 13th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Old Dominion Freight Line has a consensus rating of Hold and a consensus target price of $148.45.

NASDAQ:ODFL opened at $149.95 on Thursday. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.37 and a beta of 1.48. Old Dominion Freight Line has a twelve month low of $115.00 and a twelve month high of $170.22. The business’s 50 day moving average is $142.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.19 and a quick ratio of 2.19.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.06. The firm had revenue of $990.78 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line will post 7.89 EPS for the current year.

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

Old Dominion Freight Line declared that its board has authorized a share repurchase program on Thursday, May 16th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. boosted its stake in Old Dominion Freight Line by 56.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 14,403 shares of the transportation company’s stock valued at $2,150,000 after purchasing an additional 5,224 shares during the period. Cordasco Financial Network boosted its stake in Old Dominion Freight Line by 77.2% in the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the period. Retirement Systems of Alabama boosted its stake in Old Dominion Freight Line by 1.4% in the 2nd quarter. Retirement Systems of Alabama now owns 145,687 shares of the transportation company’s stock valued at $21,745,000 after purchasing an additional 2,025 shares during the period. WINTON GROUP Ltd boosted its stake in Old Dominion Freight Line by 22.6% in the 2nd quarter. WINTON GROUP Ltd now owns 3,615 shares of the transportation company’s stock valued at $540,000 after purchasing an additional 666 shares during the period. Finally, DNB Asset Management AS bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $1,572,000. 71.24% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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