Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, January 6th. The brokerage presently has a $152.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 3.06% from the company’s previous close.
According to Zacks, “Old Dominion Freight Line, Inc. (NASDAQ: ODFL), is a leading, less-than-truckload LTL, union-free company providing super-regional and national LTL service. The company is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base. In addition to its core LTL services, OD offers customers a broad range of logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage and container delivery and warehousing. In addition, Old Dominion offers a consumer product for household moving: OD Household Services®. Through strategic partnerships, the Company also offers international freight forwarding services throughout the world. OD consistently has one of the lowest claims ratios and best on-time records in the industry. “
Other equities research analysts have also issued research reports about the stock. Robert W. Baird reaffirmed a “hold” rating and set a $113.00 target price on shares of Old Dominion Freight Line in a report on Friday, October 6th. Stifel Nicolaus reissued a “buy” rating and set a $117.00 price target (up previously from $111.00) on shares of Old Dominion Freight Line in a research report on Wednesday, December 13th. Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a research report on Tuesday, December 5th. KeyCorp reissued a “buy” rating and set a $115.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, October 12th. Finally, Credit Suisse Group reissued a “buy” rating and set a $142.00 price target (up previously from $128.00) on shares of Old Dominion Freight Line in a research report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $116.92.
Old Dominion Freight Line (NASDAQ ODFL) traded up $0.69 on Friday, hitting $147.49. 229,793 shares of the company traded hands, compared to its average volume of 537,687. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. Old Dominion Freight Line has a 1 year low of $80.56 and a 1 year high of $150.31. The firm has a market cap of $12,189.17, a PE ratio of 36.44 and a beta of 1.20.
Institutional investors and hedge funds have recently made changes to their positions in the company. Fieldpoint Private Securities LLC bought a new stake in shares of Old Dominion Freight Line in the third quarter valued at about $100,000. Salem Investment Counselors Inc. raised its position in Old Dominion Freight Line by 3,281.3% in the third quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock worth $118,000 after acquiring an additional 1,050 shares during the period. Pinebridge Investments L.P. bought a new position in Old Dominion Freight Line in the third quarter worth approximately $123,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Old Dominion Freight Line in the fourth quarter worth approximately $132,000. Finally, FDx Advisors Inc. bought a new position in Old Dominion Freight Line in the third quarter worth approximately $204,000. Institutional investors and hedge funds own 72.51% of the company’s stock.
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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.
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