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

Other equities analysts have also recently issued research reports about the company. Citigroup raised their price target on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a report on Thursday, April 11th. Bank of America set a $7.00 price target on CannTrust and gave the company a buy rating in a report on Thursday, June 20th. Mizuho initiated coverage on Merck & Co., Inc. in a report on Tuesday, July 2nd. They issued a buy rating and a $97.00 price target on the stock. BidaskClub upgraded DENTSPLY SIRONA from a buy rating to a strong-buy rating in a report on Thursday, June 13th. Finally, Morgan Stanley set a $36.00 price target on ArcBest and gave the company a hold rating in a report on Monday, July 8th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $148.45.

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

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.06. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The company had revenue of $990.78 million during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $1.33 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line will post 7.89 EPS for the current fiscal year.

Old Dominion Freight Line declared that its Board of Directors has initiated a share buyback program on Thursday, May 16th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the transportation company to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its holdings in Old Dominion Freight Line by 42.5% during the first quarter. CWM LLC now owns 258 shares of the transportation company’s stock worth $37,000 after buying an additional 77 shares during the last quarter. Cordasco Financial Network boosted its holdings in Old Dominion Freight Line by 77.2% during the second quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its holdings in Old Dominion Freight Line by 2.3% during the first quarter. Jaffetilchin Investment Partners LLC now owns 3,700 shares of the transportation company’s stock worth $534,000 after buying an additional 82 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in Old Dominion Freight Line by 1.8% during the first quarter. Malaga Cove Capital LLC now owns 6,639 shares of the transportation company’s stock worth $959,000 after buying an additional 120 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its holdings in Old Dominion Freight Line by 1.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,801 shares of the transportation company’s stock worth $982,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

About Old Dominion Freight Line

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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