Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

A number of other analysts also recently issued reports on ODFL. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Vertical Research reissued a “hold” rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Cowen and Company raised their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $83.00 to $96.00 in a research report on Tuesday, June 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 price target (up from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Old Dominion Freight Line has an average rating of “Buy” and a consensus target price of $96.78.

Old Dominion Freight Line (ODFL) traded up 1.22% on Monday, hitting $98.64. The company’s stock had a trading volume of 522,147 shares. Old Dominion Freight Line has a 12 month low of $66.33 and a 12 month high of $100.61. The firm has a 50 day moving average of $95.56 and a 200-day moving average of $89.61. The stock has a market cap of $8.13 billion, a PE ratio of 27.08 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The business had revenue of $754.10 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts expect that Old Dominion Freight Line will post $3.99 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in shares of Old Dominion Freight Line by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the transportation company’s stock valued at $1,497,000 after buying an additional 400 shares during the period. Bank of Montreal Can boosted its position in shares of Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the period. Laurion Capital Management LP bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $975,000. Private Advisor Group LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $166,000. Finally, Comerica Bank boosted its position in shares of Old Dominion Freight Line by 4.3% in the first quarter. Comerica Bank now owns 54,771 shares of the transportation company’s stock valued at $4,941,000 after buying an additional 2,253 shares during the period. Institutional investors own 74.78% of the company’s stock.

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.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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