Old Dominion Freight Line (NASDAQ:ODFL) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research note published on Sunday.

Several other research analysts have also issued reports on ODFL. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Evercore ISI set a $150.00 price objective on Old Dominion Freight Line and gave the company an “in-line” rating in a report on Monday, January 12th. Wolfe Research set a $138.00 price objective on Old Dominion Freight Line in a research note on Thursday, January 8th. Cantor Fitzgerald set a $165.00 target price on Old Dominion Freight Line in a report on Thursday, December 18th. Finally, Stifel Nicolaus raised their target price on Old Dominion Freight Line from $173.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $174.30 on Friday. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 8.66 and a beta of 1.27. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $209.61. The business has a fifty day simple moving average of $155.98 and a 200 day simple moving average of $150.10. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

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

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares in the last quarter. Empowered Funds LLC grew its holdings in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after acquiring an additional 5,866 shares during the last quarter. Farther Finance Advisors LLC increased its position in Old Dominion Freight Line by 32.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,338 shares of the transportation company’s stock valued at $379,000 after acquiring an additional 576 shares in the last quarter. TD Private Client Wealth LLC increased its position in Old Dominion Freight Line by 210.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,920 shares of the transportation company’s stock valued at $312,000 after acquiring an additional 1,302 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Old Dominion Freight Line by 8.1% in the second quarter. Perigon Wealth Management LLC now owns 2,150 shares of the transportation company’s stock worth $349,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.