Old Dominion Freight Line (ODFL) Downgraded by Deutsche Bank to Sell
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.
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.
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