KeyBanc analyst Todd Fowler raised his price target for Old Dominion to $170 from $165 o reflect a slightly stronger tonnage, and yield outlook. After meeting with the company's management, the analyst maintains his positive thesis considering a favorable near-term operating environment, intermediate share/margin expansion opportunities, and return of capital longer term. Fowler reiterates an Overweight rating on the shares.

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Reports Q1 revenue $1.46B, consensus $1.47B Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, "Old Dominion's financial results improved during the first quarter despite continued softness in the domestic economy. For the second straight quarter, both our revenue and earnings per diluted share increased on a year-over-year basis. We achieved these results by continuing to execute our long-term strategic plan, which is centered on our ability to provide our customers with superior service at a fair price. The combination of our 99% on-time service and 0.1% claims ratio has created an unmatched value proposition in our industry, which continues to support our yield management initiatives as well as our ongoing ability to win market share.