Old Dominion Freight Line’s (ODFL) “In-Line” Rating Reaffirmed at Evercore ISI

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “in-line” rating reaffirmed by equities researchers at Evercore ISI in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $196.00 price target on the transportation company’s stock, down from their prior price target of $225.00. Evercore ISI’s target price indicates a potential upside of 11.32% from the stock’s previous close.

A number of other equities research analysts have also commented on ODFL. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a report on Monday, April 29th. Barclays lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Susquehanna lowered their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. TD Cowen cut their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $201.18.

Old Dominion Freight Line Stock Up 0.7 %

Shares of ODFL opened at $176.07 on Tuesday. The firm has a market cap of $38.26 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line has a 1 year low of $163.30 and a 1 year high of $227.80. The stock has a 50 day simple moving average of $182.11 and a two-hundred day simple moving average of $200.53.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.47 billion. On average, 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

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. Capital Research Global Investors lifted its position in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after acquiring an additional 2,888,205 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.