UPDATE: Goldman Sachs Downgrades Old Dominion Freight Line (ODFL) to Neutral

August 2, 2021 5:05 PM EDT
Get Alerts ODFL Hot Sheet
Price: $289.65 -0.63%

Rating Summary:
    9 Buy, 14 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - August 3, 2021 4:21 AM EDT)

Goldman Sachs analyst Jordan Alliger downgraded Old Dominion Freight Line (NASDAQ: ODFL) from Buy to Neutral with a price target of $281.00.

The analyst comments "We downgrade ODFL to Neutral from Buy following solid 20% share price performance since March 9 and the shares approaching our price target. When we upgraded ODFL the LTL volume recovery was still in earlier stages, and with volumes up sharply in the 2Q (28% YOY) and ODFLs operating ratio at 72.3% (new quarterly best), we just think that the current valuation reflects a meaningful amount of the early cycle upside."

For an analyst ratings summary and ratings history on Old Dominion Freight Line click here. For more ratings news on Old Dominion Freight Line click here.

Shares of Old Dominion Freight Line closed at $269.15 yesterday.

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