Deutsche Bank Believes ODFL Won’t Stop Here

By Ryan Adsit

Old Dominion Freight (NASDAQ: ODFL) received a Buy rating from Deutsche Bank analyst Robert Salmon today. The company’s shares opened today at $73.90, close to its 52-week high of $77.13.

According to TipRanks.com, Salmon is a 4-star analyst with an average return of 2.5% and a 49.5% success rate. Salmon covers the Services sector, focusing on stocks such as Fortress Transportation, Knight Transportation, and Roadrunner Transp.

Old Dominion Freight has an analyst consensus of Moderate Buy, with a price target consensus of $75.

The company has a one year high of $77.13 and a one year low of $48.92. Currently, Old Dominion Freight has an average volume of 521.2K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Jeffrey Congdon, a Major Shareholder at ODFL sold 24,555 shares for a total of $1,714,921.

Old Dominion Freight Line, Inc. engages in the provision of less-than-truckload services, which include ground and air expedited transportation, and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr. and Lillian Congdon in 1934 and is headquartered in Thomasville, NC.