Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $190.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by analysts at Raymond James from $215.00 to $190.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the transportation company’s stock. Raymond James’ target price points to a potential upside of 8.66% from the company’s current price.

ODFL has been the topic of a number of other research reports. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research report on Monday, April 29th. Evercore ISI decreased their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. Bank of America decreased their price target on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Finally, UBS Group lifted their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $201.18.

Old Dominion Freight Line Trading Down 0.7 %

Shares of ODFL opened at $174.85 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a 50 day simple moving average of $181.20 and a 200-day simple moving average of $200.46. Old Dominion Freight Line has a 1-year low of $163.30 and a 1-year high of $227.80. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities analysts forecast that Old Dominion Freight Line will post 5.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its position in Old Dominion Freight Line by 369.2% in the 1st quarter. Rise Advisors LLC now owns 183 shares of the transportation company’s stock valued at $40,000 after buying an additional 144 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after buying an additional 81,122 shares during the last quarter. US Bancorp DE raised its stake in shares of Old Dominion Freight Line by 1.0% in the 4th quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock valued at $7,351,000 after purchasing an additional 182 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in shares of Old Dominion Freight Line by 67.5% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 45,962 shares of the transportation company’s stock valued at $18,630,000 after purchasing an additional 18,517 shares in the last quarter. Finally, Parnassus Investments LLC raised its stake in shares of Old Dominion Freight Line by 42.4% in the 4th quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock valued at $137,618,000 after purchasing an additional 101,079 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.