Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives Average Rating of “Hold” from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received a consensus rating of “Hold” from the twenty-six ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $163.3333.

A number of equities research analysts have issued reports on the company. Rothschild & Co Redburn initiated coverage on Old Dominion Freight Line in a research report on Wednesday, November 26th. They set a “sell” rating and a $114.00 price objective on the stock. Susquehanna restated a “neutral” rating and set a $170.00 price target on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Wall Street Zen lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Evercore ISI set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an “in-line” rating in a research report on Monday, January 12th. Finally, UBS Group boosted their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $178.40 on Thursday. The firm has a market cap of $37.30 billion, a PE ratio of 35.90, a PEG ratio of 8.45 and a beta of 1.27. The stock has a 50 day moving average of $154.29 and a 200 day moving average of $150.07. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 EPS. On average, research analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Financial Gravity Companies Inc. acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $37,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.