KeyCorp Weighs in on Old Dominion Freight Line’s FY2017 Earnings (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL) – KeyCorp boosted their FY2017 earnings per share (EPS) estimates for Old Dominion Freight Line in a research note issued on Friday, according to Zacks Investment Research. KeyCorp analyst T. Fowler now anticipates that the transportation company will earn $4.34 per share for the year, up from their prior forecast of $4.33. KeyCorp has a “Overweight” rating and a $138.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and set a $117.00 price target (up previously from $111.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 13th. Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Bank of America downgraded shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $105.00 to $102.00 in a report on Tuesday, October 10th. They noted that the move was a valuation call. Robert W. Baird reiterated a “hold” rating and issued a $113.00 target price on shares of Old Dominion Freight Line in a report on Friday, October 6th. Finally, Citigroup lifted their target price on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $116.92.

Shares of Old Dominion Freight Line (ODFL) opened at $149.10 on Monday. The company has a market cap of $12,189.17, a PE ratio of 36.72 and a beta of 1.20. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 1-year low of $80.56 and a 1-year high of $149.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The company had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. Old Dominion Freight Line’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS.

Institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth $1,877,000. Scout Investments Inc. raised its stake in Old Dominion Freight Line by 8.2% during the 3rd quarter. Scout Investments Inc. now owns 126,513 shares of the transportation company’s stock worth $13,930,000 after acquiring an additional 9,624 shares in the last quarter. New York State Common Retirement Fund raised its stake in Old Dominion Freight Line by 6.8% during the 3rd quarter. New York State Common Retirement Fund now owns 301,739 shares of the transportation company’s stock worth $33,224,000 after acquiring an additional 19,149 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Old Dominion Freight Line by 18.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 208,016 shares of the transportation company’s stock worth $22,905,000 after acquiring an additional 31,816 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Old Dominion Freight Line by 4.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 228,900 shares of the transportation company’s stock worth $25,205,000 after acquiring an additional 8,865 shares in the last quarter. 72.40% of the stock is 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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Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

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