Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by analysts at Deutsche Bank from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $101.00 price objective on the transportation company’s stock, down from their prior price objective of $119.00. Deutsche Bank’s target price suggests a potential downside of 20.93% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Cowen reiterated a “hold” rating and issued a $100.00 target price on shares of Old Dominion Freight Line in a report on Friday, September 1st. BidaskClub downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. ValuEngine downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Friday. Bank of America downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $105.00 to $102.00 in a report on Tuesday, October 10th. They noted that the move was a valuation call. Finally, Robert W. Baird reiterated a “hold” rating and issued a $113.00 target price on shares of Old Dominion Freight Line in a report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $108.46.

Shares of Old Dominion Freight Line (NASDAQ:ODFL) traded up $0.33 during mid-day trading on Monday, reaching $127.74. The company’s stock had a trading volume of 779,244 shares, compared to its average volume of 473,478. The company has a market capitalization of $10,495.52, a P/E ratio of 31.38, a P/E/G ratio of 1.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. Old Dominion Freight Line has a 1-year low of $80.56 and a 1-year high of $130.71.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. The business had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. research analysts predict that Old Dominion Freight Line will post 4.28 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODFL. Fieldpoint Private Securities LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $100,000. Salem Investment Counselors Inc. increased its holdings in shares of Old Dominion Freight Line by 3,281.3% during the third quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after acquiring an additional 1,050 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $123,000. Paradigm Asset Management Co. LLC bought a new stake in Old Dominion Freight Line during the second quarter worth $157,000. Finally, IFP Advisors Inc grew its holdings in Old Dominion Freight Line by 12.9% during the second quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock worth $198,000 after buying an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

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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.

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

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