Positive News Coverage Somewhat Likely to Affect Old Dominion Freight Line (NASDAQ:ODFL) Share Price

Press coverage about Old Dominion Freight Line (NASDAQ:ODFL) has been trending positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Old Dominion Freight Line earned a news sentiment score of 0.36 on Accern’s scale. Accern also assigned headlines about the transportation company an impact score of 57 out of 100, indicating that recent news coverage is somewhat likely to have an effect on the company’s share price in the near term.

Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:

Several equities research analysts have issued reports on ODFL shares. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $91.00 price target on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Vertical Research reaffirmed a “hold” rating and set a $83.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Finally, Cowen and Company lifted their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Old Dominion Freight Line currently has an average rating of “Buy” and an average price target of $96.78.

Old Dominion Freight Line (NASDAQ:ODFL) traded up 1.71% during midday trading on Friday, hitting $98.05. The stock had a trading volume of 512,573 shares. The stock’s 50-day moving average is $96.13 and its 200-day moving average is $89.84. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51. The company has a market capitalization of $8.08 billion, a PE ratio of 26.91 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 9.92% and a return on equity of 16.52%. The firm had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line will post $4.05 EPS for the current year.

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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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