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

A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Argus started coverage on shares of Old Dominion Freight Line in a report on Wednesday, May 23rd. They issued a “buy” rating and a $175.00 price objective for the company. Buckingham Research raised their price objective on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $146.62.

ODFL stock opened at $146.80 on Friday. The stock has a market capitalization of $12.02 billion, a PE ratio of 33.67, a P/E/G ratio of 0.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77. Old Dominion Freight Line has a 12 month low of $93.29 and a 12 month high of $164.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.17. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business earned $1.19 EPS. analysts anticipate that Old Dominion Freight Line will post 6.85 EPS for the current year.

Old Dominion Freight Line announced that its board has authorized a share repurchase plan on Thursday, May 17th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 800 shares of the stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $148.44, for a total transaction of $118,752.00. Following the completion of the sale, the director now owns 5,679 shares of the company’s stock, valued at approximately $842,990.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Financial Architects Inc acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $120,000. Signaturefd LLC increased its position in Old Dominion Freight Line by 2,308.6% during the 2nd quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock valued at $126,000 after purchasing an additional 808 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Old Dominion Freight Line during the 2nd quarter valued at approximately $145,000. Captrust Financial Advisors increased its position in Old Dominion Freight Line by 4,831.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,085 shares of the transportation company’s stock valued at $162,000 after purchasing an additional 1,063 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 1st quarter valued at approximately $204,000. 71.98% of the stock is owned by institutional investors and hedge funds.

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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