Old Dominion Freight Line Inc. (NASDAQ:ODFL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $97.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 9.94% from the company’s current price.

According to Zacks, “Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base. “

Several other equities analysts have also recently issued reports on the company. Deutsche Bank AG reissued a “top pick” rating and set a $90.00 target price on shares of Old Dominion Freight Line in a research note on Monday, November 14th. Bank of America Corp. cut Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a research note on Friday, October 28th. They noted that the move was a valuation call. KeyCorp restated a “buy” rating and set a $75.00 price target on shares of Old Dominion Freight Line in a research report on Sunday, October 9th. Finally, Cowen and Company lifted their price target on Old Dominion Freight Line from $63.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $73.50.

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

Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at 88.23 on Tuesday. The company has a 50-day moving average price of $75.86 and a 200-day moving average price of $68.22. Old Dominion Freight Line has a 52-week low of $48.92 and a 52-week high of $88.30. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 24.65 and a beta of 0.95.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, October 27th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.06. Old Dominion Freight Line had a return on equity of 17.31% and a net margin of 10.05%. The firm had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $319.94 million. During the same period in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Old Dominion Freight Line will post $3.60 earnings per share for the current year.

In other news, Vice Chairman David S. Congdon sold 815 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $74.67, for a total value of $60,856.05. Following the completion of the transaction, the insider now owns 5,334 shares in the company, valued at $398,289.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman David S. Congdon sold 2,400 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $86.56, for a total value of $207,744.00. Following the completion of the transaction, the insider now owns 5,334 shares of the company’s stock, valued at approximately $461,711.04. The disclosure for this sale can be found here. 14.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. boosted its position in Old Dominion Freight Line by 21.0% in the third quarter. Advisor Group Inc. now owns 1,604 shares of the company’s stock valued at $110,000 after buying an additional 278 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Old Dominion Freight Line during the second quarter valued at $109,000. D.A. Davidson & CO. boosted its position in Old Dominion Freight Line by 10.1% in the third quarter. D.A. Davidson & CO. now owns 1,825 shares of the company’s stock valued at $124,000 after buying an additional 167 shares in the last quarter. FTB Advisors Inc. boosted its position in Old Dominion Freight Line by 21.2% in the third quarter. FTB Advisors Inc. now owns 1,872 shares of the company’s stock valued at $129,000 after buying an additional 328 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Old Dominion Freight Line by 12.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,063 shares of the company’s stock valued at $142,000 after buying an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a less-than-truckload (LTL), union-free motor carrier company. The Company provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Company offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

5 Day Chart for NASDAQ:ODFL

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