Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, July 11th. Deutsche Bank AG downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $108.00 to $98.00 in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Cowen and Company raised their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Finally, Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and raised their price target for the company from $83.00 to $96.00 in a research note on Tuesday, June 6th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.67.

Old Dominion Freight Line (ODFL) traded up 1.71% during midday trading on Wednesday, reaching $99.27. The company had a trading volume of 102,113 shares. The company’s 50-day moving average is $97.09 and its 200 day moving average is $90.62. Old Dominion Freight Line has a 52-week low of $66.33 and a 52-week high of $103.51. The company has a market cap of $8.18 billion, a PE ratio of 25.71 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. Old Dominion Freight Line’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line will post $4.14 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its stake in Old Dominion Freight Line by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 33,124 shares of the transportation company’s stock worth $3,154,000 after buying an additional 304 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Old Dominion Freight Line by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 102,304 shares of the transportation company’s stock worth $9,743,000 after buying an additional 1,729 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Old Dominion Freight Line during the second quarter worth about $233,000. Janus Henderson Group PLC acquired a new stake in Old Dominion Freight Line during the second quarter worth about $266,855,000. Finally, Shelton Capital Management acquired a new stake in Old Dominion Freight Line during the second quarter worth about $500,000. 75.07% of the stock is owned by institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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