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

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Evercore ISI upped their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday. Jefferies Financial Group increased their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Bank of America decreased their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $201.40.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $164.85 on Friday. The company has a 50 day moving average of $182.63 and a two-hundred day moving average of $193.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $157.67 and a twelve month high of $233.26. The company has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 111 Capital acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $380,000. Cim LLC boosted its stake in Old Dominion Freight Line by 2.6% during the fourth quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock worth $1,245,000 after buying an additional 182 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $39,633,000. Jefferies Financial Group Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $1,127,000. Finally, Challenger Wealth Management acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.