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

Key Points

• Old Dominion Freight Line's stock received a "hold (C-)" rating from Weiss Ratings, while other analysts have varied ratings from "buy" to "neutral." The company's average price target is currently at $161.90.
• The company's most recent quarterly earnings report showed earnings per share of $1.27, missing estimates, and a revenue decline of 6.1% compared to the previous year.
• Old Dominion Freight Line's stock has shown resilience with a market capitalization of $28.61 billion and a current stock price of around $136.12.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other analysts also recently issued reports on the stock. Vertical Research raised shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Thursday, July 31st. Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Raymond James Financial set a $160.00 price target on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Tuesday, October 14th. UBS Group raised their price target on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research report on Friday, October 3rd. Finally, Wolfe Research raised their price target on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $161.90.

Old Dominion Freight Line Stock Up 0.2%

Shares of NASDAQ:ODFL opened at $136.12 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line has a 52-week low of $133.69 and a 52-week high of $233.26. The company has a 50 day moving average of $144.43 and a two-hundred day moving average of $154.24. The company has a market capitalization of $28.61 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19.

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

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Old Dominion Freight Line during the second quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock valued at $27,000 after buying an additional 123 shares during the last quarter. Rossby Financial LCC bought a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. Finally, Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line in the first quarter valued at $39,000. 77.82% of the stock is currently owned by institutional investors.

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.

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