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

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 report issued to clients and investors on Friday.

Other equities research analysts have also issued reports about the company. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $186.00 to $183.00 in a report on Tuesday, April 8th. Stephens restated an "overweight" rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective for the company. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group decreased their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $182.26.

Old Dominion Freight Line Stock Down 1.4%

ODFL stock traded down $2.29 during mid-day trading on Friday, hitting $159.72. The stock had a trading volume of 2,898,004 shares, compared to its average volume of 1,658,721. Old Dominion Freight Line has a 1-year low of $144.90 and a 1-year high of $233.26. The company has a fifty day moving average of $159.43 and a 200 day moving average of $179.86. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $33.75 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The business's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new stake in Old Dominion Freight Line in the first quarter valued at about $20,053,000. Focus Partners Wealth boosted its holdings in Old Dominion Freight Line by 50.4% during the first quarter. Focus Partners Wealth now owns 41,973 shares of the transportation company's stock valued at $6,944,000 after purchasing an additional 14,067 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Old Dominion Freight Line by 5.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,325,953 shares of the transportation company's stock valued at $219,379,000 after purchasing an additional 63,383 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company's stock worth $1,690,000 after buying an additional 5,866 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

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.