Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other equities analysts have also issued reports on ODFL. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $108.00 to $98.00 in a report on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a report on Friday, July 14th. Credit Suisse Group reissued an “outperform” rating and issued a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $83.00 to $96.00 in a report on Tuesday, June 6th. One 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’s stock. Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $97.67.

Old Dominion Freight Line (ODFL) traded up 1.72% during mid-day trading on Friday, hitting $96.22. The company had a trading volume of 488,804 shares. The firm has a market cap of $7.92 billion, a P/E ratio of 24.92 and a beta of 1.08. The stock’s 50 day moving average price is $96.30 and its 200 day moving average price is $90.08. Old Dominion Freight Line has a 52-week low of $66.33 and a 52-week high of $103.51.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The business had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Old Dominion Freight Line will post $4.14 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of ODFL. Louisiana State Employees Retirement System raised its position in shares of Old Dominion Freight Line by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the transportation company’s stock worth $1,497,000 after buying an additional 400 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Old Dominion Freight Line during the first quarter worth about $975,000. Bank of Montreal Can raised its position in shares of 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 worth $3,469,000 after buying an additional 36,224 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter worth about $166,000. Finally, LS Investment Advisors LLC raised its position in shares of Old Dominion Freight Line by 17.3% in the second quarter. LS Investment Advisors LLC now owns 6,365 shares of the transportation company’s stock worth $606,000 after buying an additional 939 shares during the last quarter. 74.89% of the stock is owned by hedge funds and other institutional investors.

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.

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

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