Zacks Investment Research upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base. “

Several other equities research analysts have also recently issued reports on ODFL. KeyCorp lifted their price objective on Old Dominion Freight Line from $91.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday, November 29th. Seaport Global Securities reiterated a buy rating and issued a $105.00 price objective on shares of Old Dominion Freight Line in a report on Friday, December 16th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $92.00 price objective on shares of Old Dominion Freight Line in a report on Sunday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Old Dominion Freight Line has a consensus rating of Buy and an average target price of $91.71.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 84.33 on Tuesday. The firm’s 50 day moving average price is $85.69 and its 200-day moving average price is $84.52. The company has a market capitalization of $6.95 billion, a PE ratio of 23.69 and a beta of 1.02. Old Dominion Freight Line has a 12-month low of $56.74 and a 12-month high of $94.97.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, February 2nd. The transportation company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.03. Old Dominion Freight Line had a net margin of 9.89% and a return on equity of 16.69%. The business earned $745.74 million during the quarter, compared to analysts’ expectations of $739.36 million. During the same quarter in the prior year, the firm earned $0.85 EPS. Old Dominion Freight Line’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line will post $3.93 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in ODFL. Independent Advisor Alliance purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $100,000. Advisor Group Inc. raised its stake in shares of Old Dominion Freight Line by 21.0% in the third quarter. Advisor Group Inc. now owns 1,604 shares of the transportation company’s stock worth $110,000 after buying an additional 278 shares during the last quarter. FTB Advisors Inc. raised its stake in shares of Old Dominion Freight Line by 21.2% in the third quarter. FTB Advisors Inc. now owns 1,872 shares of the transportation company’s stock worth $129,000 after buying an additional 328 shares during the last quarter. Columbia Asset Management purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $213,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Old Dominion Freight Line by 21.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the transportation company’s stock worth $214,000 after buying an additional 543 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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