Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $190.00 at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by stock analysts at Raymond James from $215.00 to $190.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective indicates a potential upside of 6.62% from the stock’s current price.

Several other analysts have also issued reports on the company. Barclays cut their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company began coverage on 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. Vertical Research raised 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. Finally, Evercore ISI cut their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $202.71.

Old Dominion Freight Line Stock Up 1.9 %

Shares of ODFL traded up $3.31 during mid-day trading on Monday, reaching $178.20. The company’s stock had a trading volume of 196,126 shares, compared to its average volume of 1,575,434. The business has a fifty day moving average of $182.99 and a 200 day moving average of $200.61. The company has a market cap of $38.72 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line has a 1 year low of $163.30 and a 1 year high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in shares of Old Dominion Freight Line by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares during the last quarter. Lido Advisors LLC lifted its position in Old Dominion Freight Line by 3.1% during the third quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after acquiring an additional 29 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Old Dominion Freight Line by 14.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after acquiring an additional 30 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after acquiring an additional 30 shares during the last quarter. Finally, Drive Wealth Management LLC increased its holdings in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock worth $316,000 after purchasing an additional 39 shares during the period. 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.