Trade Report: The Old Dominion Freight Line Inc. (ODFL) Given Buy Rating at KeyCorp

The Old Dominion Freight Line Inc. (ODFL) Given Buy Rating at KeyCorp

KeyCorp reissued their buy rating on shares of Old Dominion Freight Line Inc. (NASDAQ:ODFL) in a research note issued to investors on Sunday morning. KeyCorp currently has a $75.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Old Dominion Freight Line from a hold rating to a sell rating in a report on Tuesday, October 4th. Deutsche Bank AG boosted their price target on Old Dominion Freight Line from $67.00 to $71.00 and gave the company a hold rating in a report on Friday, July 29th. Finally, Cowen and Company boosted their price target on Old Dominion Freight Line from $63.00 to $73.00 and gave the company a market perform rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $68.78.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 70.60 on Friday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 19.99 and a beta of 1.24. The stock has a 50 day moving average price of $69.08 and a 200-day moving average price of $66.26. Old Dominion Freight Line has a 12-month low of $48.92 and a 12-month high of $72.45.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Old Dominion Freight Line had a return on equity of 17.61% and a net margin of 10.02%. The company had revenue of $755.40 million for the quarter, compared to the consensus estimate of $754.33 million. During the same quarter in the previous year, the business earned $1.00 EPS. Old Dominion Freight Line’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line will post $3.55 EPS for the current fiscal year.

In related news, insider John R. Congdon, Jr. sold 3,800 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $70.87, for a total value of $269,306.00. Following the sale, the insider now owns 1,494 shares in the company, valued at approximately $105,879.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey W. Congdon sold 24,555 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $69.84, for a total value of $1,714,921.20. The disclosure for this sale can be found here. Company insiders own 14.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Capital Research Global Investors increased its stake in Old Dominion Freight Line by 0.5% in the second quarter. Capital Research Global Investors now owns 6,627,259 shares of the company’s stock valued at $399,690,000 after buying an additional 34,505 shares during the last quarter. BlackRock Fund Advisors increased its stake in Old Dominion Freight Line by 4.9% in the second quarter. BlackRock Fund Advisors now owns 2,392,291 shares of the company’s stock valued at $144,279,000 after buying an additional 112,234 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Old Dominion Freight Line by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 2,334,603 shares of the company’s stock valued at $140,798,000 after buying an additional 124,270 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Old Dominion Freight Line by 2.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,018,131 shares of the company’s stock valued at $121,713,000 after buying an additional 46,535 shares during the last quarter. Finally, State Street Corp increased its stake in Old Dominion Freight Line by 1.1% in the first quarter. State Street Corp now owns 1,829,339 shares of the company’s stock valued at $127,363,000 after buying an additional 19,533 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.

About Old Dominion Freight Line

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