Old Dominion Freight Line (NASDAQ:ODFL) Downgraded to “Sell” Rating by StockNews.com

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird dropped their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Barclays dropped their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Price Performance

ODFL traded up $1.32 during trading on Friday, hitting $197.20. 1,871,017 shares of the company traded hands, compared to its average volume of 1,502,233. The company has a market cap of $42.10 billion, a PE ratio of 34.48, a P/E/G ratio of 4.95 and a beta of 1.05. The stock’s 50-day simple moving average is $190.09 and its two-hundred day simple moving average is $197.70. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new stake in Old Dominion Freight Line during the fourth quarter worth $3,741,000. Toronto Dominion Bank boosted its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Old Dominion Freight Line during the fourth quarter worth $600,000. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC boosted its holdings in Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

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.