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

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 report issued on Sunday.

Several other research firms have also recently weighed in on ODFL. Bank of America upped their price target on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, January 9th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Finally, Rothschild Redb upgraded shares of Old Dominion Freight Line to a “strong sell” rating in a research report on Wednesday, November 26th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Trading Down 2.2%

Shares of ODFL opened at $174.30 on Friday. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $209.61. The stock 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 quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $155.98 and its 200-day moving average price is $150.22.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 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 company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company earned $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Brighton Jones LLC increased its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the period. Empowered Funds LLC grew its holdings in shares of Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 32.7% in the second quarter. Farther Finance Advisors LLC now owns 2,338 shares of the transportation company’s stock worth $379,000 after purchasing an additional 576 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Old Dominion Freight Line by 210.7% in the second quarter. TD Private Client Wealth LLC now owns 1,920 shares of the transportation company’s stock worth $312,000 after buying an additional 1,302 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Old Dominion Freight Line by 8.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,150 shares of the transportation company’s stock valued at $349,000 after buying an additional 161 shares during the last quarter. Institutional investors 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.