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

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

ODFL has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Susquehanna reissued a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Barclays cut their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. 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. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.40.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $164.85 on Friday. Old Dominion Freight Line has a 52-week low of $157.67 and a 52-week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $182.63 and its 200 day moving average is $193.59. The company has a market cap of $35.04 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its holdings in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $51,000. Finally, CoreCap Advisors LLC grew its position in shares of Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 168 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.