Old Dominion Freight Line (ODFL) is Reiterated by Cowen to Market Perform, Raises Price Target to $ 73

Old Dominion Freight Line (ODFL) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 73 from a previous price target of $63 . Cowen advised their investors in a research report released on Jul 28, 2016.

On the company’s financial health, Old Dominion Freight Line reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.95. The company had revenue of $755.40 million for the quarter, compared to analysts expectations of $753.31 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Old Dominion Freight Line opened for trading at $68.99 and hit $69.69 on the upside on Thursday, eventually ending the session at $69.65, with a gain of 2.79% or 1.89 points. The heightened volatility saw the trading volume jump to 8,48,682 shares. Company has a market cap of $5,812 M.

In a different news, on May 11, 2016, David S Congdon (Vice Chairman and CEO) sold 2,200 shares at $65.41 per share price. According to the SEC, on May 6, 2016, Leo H Suggs (director) purchased 1,000 shares at $63.00 per share price.

Old Dominion Freight Line Inc. (Old Dominion) is a less-than-truckload (LTL) motor carrier providing regional inter-regional and national LTL service and logistics services. In addition to its LTL services it offers a range of services including international freight forwarding ground and air expedited transportation container delivery truckload brokerage supply chain consulting warehousing and consumer household pickup and delivery. Its infrastructure allows it to provide next-day and second-day service within each of its six regions covering the continental United States as well as inter-regional and national service between these regions. As of December 31 2014 it operated through 222 service center locations of which it owned 176 and leased 46. As of December 31 2014 it owned 6907 tractors. As of December 31 2014 it owned 27259 trailers.

Old Dominion Freight Line

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