Old Dominion Freight Line (NASDAQ:ODFL) Stock Rating Upgraded by ValuEngine

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

A number of other analysts also recently issued reports on the stock. Credit Suisse Group increased their target price on shares of Old Dominion Freight Line from $152.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Bank of America reissued a “neutral” rating and set a $150.00 target price (up previously from $144.00) on shares of Old Dominion Freight Line in a research report on Thursday, June 20th. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley set a $146.00 target price on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, KeyCorp increased their target price on shares of Old Dominion Freight Line from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $152.08.

ODFL traded down $1.24 on Tuesday, reaching $173.38. 14,637 shares of the company’s stock were exchanged, compared to its average volume of 521,636. The company’s 50 day moving average is $164.53 and its 200-day moving average is $151.34. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.40 and a beta of 1.50. Old Dominion Freight Line has a twelve month low of $115.00 and a twelve month high of $175.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92.



Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 25th. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.05. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Old Dominion Freight Line had a net margin of 15.48% and a return on equity of 23.57%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. Sell-side analysts forecast that Old Dominion Freight Line will post 7.92 EPS for the current year.

Old Dominion Freight Line announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 16th that permits the company to repurchase $350.00 million in shares. This repurchase authorization permits the transportation company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, SVP Gregory B. Plemmons sold 1,249 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $163.39, for a total transaction of $204,074.11. Following the completion of the transaction, the senior vice president now directly owns 5,714 shares in the company, valued at approximately $933,610.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Earl E. Congdon sold 56,400 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $166.53, for a total value of $9,392,292.00. Following the transaction, the chairman now owns 10,854 shares of the company’s stock, valued at $1,807,516.62. The disclosure for this sale can be found here. Insiders sold 87,799 shares of company stock valued at $14,586,493 in the last ninety days. 11.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ODFL. Quantamental Technologies LLC boosted its stake in shares of Old Dominion Freight Line by 155.2% during the 2nd quarter. Quantamental Technologies LLC now owns 171 shares of the transportation company’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Cordasco Financial Network boosted its stake in shares of Old Dominion Freight Line by 77.2% during the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock valued at $27,000 after buying an additional 78 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in Old Dominion Freight Line during the second quarter worth $28,000. Kavar Capital Partners LLC bought a new position in Old Dominion Freight Line during the second quarter worth $45,000. Finally, SRS Capital Advisors Inc. bought a new position in Old Dominion Freight Line during the second quarter worth $59,000. Institutional investors own 71.58% 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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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