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

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has a $220.00 price objective on the transportation company’s stock. Argus’ price target points to a potential upside of 13.87% from the stock’s previous close.

ODFL has been the topic of several other reports. Stifel Nicolaus set a $217.00 target price on Old Dominion Freight Line in a report on Thursday, February 5th. Jefferies Financial Group upped their price objective on shares of Old Dominion Freight Line from $160.00 to $195.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Wells Fargo & Company increased their price objective on shares of Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. TD Cowen boosted their target price on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased their price target on Old Dominion Freight Line from $150.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $189.88.

Old Dominion Freight Line Stock Up 4.2%

NASDAQ ODFL opened at $193.21 on Thursday. The company has a market capitalization of $40.40 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 9.26 and a beta of 1.28. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $209.61. The stock has a fifty day simple moving average of $171.16 and a 200 day simple moving average of $152.69.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares in the last quarter. Empowered Funds LLC grew its stake in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after acquiring an additional 5,866 shares during the period. Blue Trust Inc. increased its holdings in shares of Old Dominion Freight Line by 65.5% during the second quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 163 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Old Dominion Freight Line by 15.2% during the second quarter. Concurrent Investment Advisors LLC now owns 3,157 shares of the transportation company’s stock worth $512,000 after purchasing an additional 416 shares during the period. Finally, CWM LLC raised its position in shares of Old Dominion Freight Line by 52.0% during the second quarter. CWM LLC now owns 15,165 shares of the transportation company’s stock worth $2,461,000 after purchasing an additional 5,186 shares during the period. Institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.