Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Other research analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America Corporation raised shares of Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $83.00 to $96.00 in a research note on Tuesday, June 6th. Vertical Research reissued a “hold” rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Finally, Cowen and Company boosted their target price on shares of Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $97.67.
Shares of Old Dominion Freight Line (ODFL) traded up 1.72% during midday trading on Friday, hitting $96.22. 488,804 shares of the company were exchanged. Old Dominion Freight Line has a 52-week low of $66.33 and a 52-week high of $103.51. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 24.92 and a beta of 1.08. The company has a 50-day moving average price of $96.30 and a 200-day moving average price of $90.08.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The firm had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same quarter in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts forecast that Old Dominion Freight Line will post $4.14 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of ODFL. Teachers Advisors LLC boosted its stake in Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock valued at $7,213,000 after buying an additional 24,415 shares during the period. Bank of Montreal Can boosted its stake in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the period. Capstone Asset Management Co. boosted its stake in Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock valued at $626,000 after buying an additional 150 shares during the period. Parametrica Management Ltd acquired a new stake in Old Dominion Freight Line during the first quarter valued at approximately $286,000. Finally, Atria Investments LLC boosted its stake in Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock valued at $237,000 after buying an additional 69 shares during the period. Institutional investors own 74.89% of the company’s stock.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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