Old Dominion Freight Line (NASDAQ:ODFL) Earns "Hold (C-)" Rating from Weiss Ratings

Key Points

• Old Dominion Freight Line received a "Hold (C-)" rating from Weiss Ratings, with several analysts adjusting their price targets, including cuts by Morgan Stanley and TD Cowen.
• The company's recent quarterly earnings reported an EPS of $1.27, missing estimates, and revenue decreased by 6.1% year-over-year.
• Institutional investors hold 77.82% of Old Dominion Freight Line's stock, with recent increases in positions by major firms like Assenagon Asset Management and Union Bancaire Privee UBP SA.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the stock. Morgan Stanley cut their price target on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. TD Cowen cut their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Benchmark reissued a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Citigroup lowered their price target on Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Finally, Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a report on Monday, June 30th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $164.55.

Old Dominion Freight Line Stock Up 2.4%

Shares of ODFL opened at $144.78 on Wednesday. The firm has a market cap of $30.43 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 3.31 and a beta of 1.19. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26. The company's 50-day moving average price is $146.70 and its 200 day moving average price is $156.23. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.48 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Trading of Old Dominion Freight Line

Large investors have recently made changes to their positions in the stock. Marshall Financial Group LLC boosted its stake in Old Dominion Freight Line by 6.5% in the 3rd quarter. Marshall Financial Group LLC now owns 12,341 shares of the transportation company's stock worth $1,737,000 after buying an additional 753 shares during the last quarter. Czech National Bank boosted its stake in Old Dominion Freight Line by 3.3% in the 3rd quarter. Czech National Bank now owns 46,973 shares of the transportation company's stock worth $6,613,000 after buying an additional 1,517 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Old Dominion Freight Line by 31.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company's stock worth $35,685,000 after buying an additional 60,279 shares during the last quarter. Union Bancaire Privee UBP SA raised its holdings in shares of Old Dominion Freight Line by 39.0% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 2,753 shares of the transportation company's stock worth $382,000 after purchasing an additional 773 shares during the period. Finally, Caldwell Trust Co purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $133,000. Institutional investors and hedge funds 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.

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