Old Dominion Freight Line (ODFL) Downgraded to Hold at ValuEngine

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ValuEngine downgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a hold rating in a research report sent to investors on Monday morning, ValuEngine reports.

ODFL has been the subject of a number of other research reports. Citigroup increased their target price on Old Dominion Freight Line from $145.00 to $155.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Cowen increased their target price on Old Dominion Freight Line from $133.00 to $142.00 and gave the stock a market perform rating in a report on Thursday, February 7th. Seaport Global Securities reiterated a buy rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. Credit Suisse Group restated a buy rating and issued a $147.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. Finally, Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $158.00 price objective for the company in a report on Monday, March 11th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $149.20.

ODFL stock opened at $144.29 on Monday. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.07 and a beta of 1.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.19 and a quick ratio of 2.19. Old Dominion Freight Line has a 1 year low of $115.00 and a 1 year high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.06. The firm had revenue of $990.78 million during the quarter, compared to analysts’ expectations of $1 billion. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, sell-side analysts forecast that Old Dominion Freight Line will post 7.97 earnings per share for the current year.

In other news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $151.84, for a total value of $296,239.84. Following the completion of the transaction, the senior vice president now owns 6,027 shares in the company, valued at approximately $915,139.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Covenant Partners LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $289,000. HighTower Advisors LLC lifted its position in Old Dominion Freight Line by 442.4% during the first quarter. HighTower Advisors LLC now owns 26,404 shares of the transportation company’s stock worth $3,805,000 after acquiring an additional 21,536 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $1,025,000. One Wealth Advisors LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth approximately $98,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Old Dominion Freight Line by 6.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 19,483 shares of the transportation company’s stock worth $2,813,000 after acquiring an additional 1,202 shares during the last quarter. Institutional investors own 71.92% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Read More: Retained Earnings

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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