Old Dominion Freight Line (NASDAQ:ODFL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a report issued on Sunday morning.

ODFL has been the topic of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Truist Financial lifted their price objective on Old Dominion Freight Line from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft decreased their target price on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Stephens reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday, January 6th. Finally, Barclays set a $165.00 price target on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Stock Up 0.3%

Shares of NASDAQ:ODFL opened at $174.44 on Friday. The company has a market capitalization of $36.48 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 8.65 and a beta of 1.27. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $209.61. The business has a 50-day moving average price of $157.74 and a 200 day moving average price of $150.16. 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 (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares in the last quarter. Empowered Funds LLC boosted its holdings in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Old Dominion Freight Line by 32.7% in the second quarter. Farther Finance Advisors LLC now owns 2,338 shares of the transportation company’s stock valued at $379,000 after purchasing an additional 576 shares in the last quarter. TD Private Client Wealth LLC increased its stake in Old Dominion Freight Line by 210.7% in the second quarter. TD Private Client Wealth LLC now owns 1,920 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in Old Dominion Freight Line by 8.1% during the second quarter. Perigon Wealth Management LLC now owns 2,150 shares of the transportation company’s stock worth $349,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.