Old Dominion Freight Line (NASDAQ:ODFL) Stock Rating Upgraded by Vertical Research

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by Vertical Research from a “sell” rating to a “hold” rating in a report issued on Monday, FinViz reports. The brokerage currently has a $175.00 price objective on the transportation company’s stock. Vertical Research’s price objective suggests a potential downside of 4.07% from the stock’s previous close.

A number of other equities research analysts have also commented on ODFL. Barclays lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday. The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Stifel Nicolaus raised their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Raymond James raised their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Susquehanna raised their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $209.08.

Old Dominion Freight Line Trading Down 7.2 %

NASDAQ ODFL opened at $182.42 on Monday. The firm has a market capitalization of $39.71 billion, a P/E ratio of 32.12, a PEG ratio of 2.85 and a beta of 1.02. The business has a fifty day simple moving average of $220.06 and a 200 day simple moving average of $206.32. Old Dominion Freight Line has a 12 month low of $147.90 and a 12 month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, analysts predict that Old Dominion Freight Line will post 6.16 EPS for the current fiscal year.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds have recently bought and sold shares of ODFL. Atlantic Union Bankshares Corp lifted its position in Old Dominion Freight Line by 22.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 4,298 shares of the transportation company’s stock worth $1,758,000 after buying an additional 774 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Old Dominion Freight Line by 27.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,490 shares of the transportation company’s stock worth $7,565,000 after buying an additional 4,021 shares during the last quarter. RMR Wealth Builders bought a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $507,000. Litman Gregory Wealth Management LLC bought a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $2,438,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Old Dominion Freight Line by 1.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,358 shares of the transportation company’s stock worth $4,238,000 after buying an additional 114 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, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.