Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other analysts have also weighed in on ODFL. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Buckingham Research assumed coverage on Old Dominion Freight Line in a report on Monday, August 21st. They set a “neutral” rating and a $105.00 price objective on the stock. Credit Suisse Group reissued an “outperform” rating and set a $109.00 price objective (up previously from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $83.00 to $96.00 in a report on Tuesday, June 6th. Finally, Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $108.00 to $98.00 in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $98.40.

Shares of Old Dominion Freight Line (ODFL) traded up 1.89% on Wednesday, reaching $97.22. 492,491 shares of the company were exchanged. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51. The company has a 50-day moving average price of $96.86 and a 200 day moving average price of $90.96. The stock has a market capitalization of $8.01 billion, a PE ratio of 25.18 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same quarter last year, the firm earned $0.98 EPS. Old Dominion Freight Line’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts forecast that Old Dominion Freight Line will post $4.14 EPS for the current fiscal year.

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In related news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the sale, the insider now owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in ODFL. Teachers Advisors LLC raised its stake in shares of Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock valued at $7,213,000 after buying an additional 24,415 shares in the last quarter. Bank of Montreal Can raised its stake 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 in the last quarter. Capstone Asset Management Co. raised its stake in shares of Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock valued at $626,000 after buying an additional 150 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $317,000. Finally, Fisher Asset Management LLC raised its position in Old Dominion Freight Line by 2.3% in the first quarter. Fisher Asset Management LLC now owns 5,877 shares of the transportation company’s stock worth $503,000 after buying an additional 130 shares in the last quarter. 73.92% of the stock is currently owned by institutional investors and hedge funds.

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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