Wall Street Zen Upgrades Old Dominion Freight Line (NASDAQ:ODFL) to Hold

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts have also recently weighed in on ODFL. Stephens reiterated an “overweight” rating and issued a $190.00 price target on shares of Old Dominion Freight Line in a report on Tuesday, January 6th. Bank of America raised their target price on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, January 9th. Citigroup reissued a “buy” rating and issued a $196.00 price target (up from $170.00) on shares of Old Dominion Freight Line in a research note on Wednesday, January 7th. Finally, Barclays set a $165.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Stock Down 2.2%

Shares of NASDAQ:ODFL opened at $174.30 on Friday. The stock’s 50-day moving average is $155.98 and its 200 day moving average is $150.22. The company has a market cap of $36.45 billion, a PE ratio of 35.07, a P/E/G ratio of 8.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted $1.43 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its stake in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares during the last quarter. Rossby Financial LCC bought a new stake in Old Dominion Freight Line in the second quarter worth $28,000. Finally, Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line in the third quarter worth $37,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.