Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.
Several other research analysts have also recently issued reports on the company. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $235.00 to $250.00 in a research report on Wednesday, July 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research report on Monday, July 13th. Stephens reiterated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Morgan Stanley reissued an “equal weight” rating and issued a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Finally, Barclays boosted their target price on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $226.55.
Get Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Price Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line will post 5.78 EPS for the current year.
Hedge Funds Weigh In On Old Dominion Freight Line
Hedge funds have recently modified their holdings of the company. Bell Investment Advisors Inc purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Reflection Asset Management purchased a new stake in Old Dominion Freight Line in the 4th quarter worth $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line during the first quarter valued at about $29,000. Finally, DT Investment Partners LLC raised its holdings in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. 77.82% of the stock is currently owned by institutional investors.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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