Old Dominion Freight Line (NASDAQ:ODFL) Downgraded by Argus to “Hold”

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a report released on Tuesday,Briefing.com Automated Import reports.

Other equities analysts have also issued reports about the company. Robert W. Baird dropped their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen dropped their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Bank of America dropped their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Stock Up 2.5 %

ODFL opened at $231.84 on Tuesday. The business’s fifty day moving average is $198.73 and its two-hundred day moving average is $190.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 6.37 and a beta of 0.99. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business earned $1.54 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line will post 5.46 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock valued at $9,386,158 in the last three months. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the second quarter valued at about $25,000. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares during the last quarter. LRI Investments LLC lifted its position in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth about $38,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.