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

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on ODFL. UBS Group lowered their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Finally, Stephens reissued an "overweight" rating and issued a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $180.42.

Old Dominion Freight Line Stock Up 1.7%

Shares of NASDAQ ODFL traded up $2.77 during mid-day trading on Friday, reaching $162.77. 464,627 shares of the company were exchanged, compared to its average volume of 1,653,693. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $34.40 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line has a 1 year low of $144.90 and a 1 year high of $233.26. The firm has a 50-day moving average of $159.25 and a 200 day moving average of $179.16.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The firm's revenue was down 5.8% on a year-over-year basis. On average, research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares during the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the first quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. raised its position in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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.