Old Dominion Freight Line (NASDAQ:ODFL) Lifted to “Hold” at Vertical Research

Vertical Research upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $175.00 price target on the transportation company’s stock.

Several other equities analysts also recently weighed in on ODFL. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Susquehanna boosted their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research report on Thursday, February 8th. TD Cowen lowered their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a hold rating on the stock in a research report on Friday, April 26th. Finally, Bank of America lowered their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $209.08.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $182.49 on Monday. The company has a market capitalization of $39.72 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. The business’s fifty day moving average is $218.96 and its 200 day moving average is $205.98. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Sell-side analysts predict that Old Dominion Freight Line will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after purchasing an additional 2,888,205 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after purchasing an additional 12,016 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Old Dominion Freight Line by 95.9% during the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after purchasing an additional 972,531 shares in the last quarter. 77.82% 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 motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.