Old Dominion Freight Line (ODFL) Rating Increased to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a strong-buy rating in a research report report published on Friday.

Several other research firms also recently weighed in on ODFL. Stifel Nicolaus reaffirmed a hold rating and issued a $134.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, January 18th. ValuEngine upgraded Old Dominion Freight Line from a hold rating to a buy rating in a research note on Tuesday, April 3rd. Bank of America lifted their price objective on Old Dominion Freight Line from $127.00 to $133.00 and gave the company an underperform rating in a research note on Thursday, March 8th. Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $160.00 price objective for the company in a research note on Thursday, April 12th. Finally, Goldman Sachs assumed coverage on Old Dominion Freight Line in a research note on Tuesday, April 10th. They issued a neutral rating and a $144.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $138.75.

NASDAQ ODFL opened at $147.09 on Friday. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 0.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. Old Dominion Freight Line has a 1-year low of $82.50 and a 1-year high of $152.50.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 26th. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.03. The company had revenue of $925.02 million during the quarter, compared to the consensus estimate of $925.83 million. Old Dominion Freight Line had a return on equity of 18.47% and a net margin of 14.38%. Old Dominion Freight Line’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. sell-side analysts forecast that Old Dominion Freight Line will post 6.39 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ODFL. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $132,000. Captrust Financial Advisors purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $138,000. Telemus Capital LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $207,000. Stephens Inc. AR purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $209,000. Finally, Reliant Investment Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $216,000. Institutional investors and hedge funds own 75.36% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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