Stephens Boosts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $280.00


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Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by investment analysts at Stephens from $240.00 to $280.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Stephens’ price objective points to a potential upside of 12.55% from the company’s current price.

Several other brokerages have also recently commented on ODFL. UBS Group started coverage on shares of Old Dominion Freight Line in a research report on Tuesday, January 19th. They set a “buy” rating on the stock. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their target price for the company from $222.00 to $238.00 in a report on Tuesday, March 16th. Vertical Research assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 26th. They issued a “hold” rating and a $220.00 target price on the stock. Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, February 12th. Finally, Morgan Stanley upped their target price on shares of Old Dominion Freight Line from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, April 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $221.25.

ODFL traded down $0.25 during trading on Tuesday, hitting $248.77. The company had a trading volume of 25,601 shares, compared to its average volume of 704,072. The company has a market capitalization of $29.09 billion, a PE ratio of 47.22, a PEG ratio of 1.89 and a beta of 1.00. Old Dominion Freight Line has a one year low of $123.50 and a one year high of $251.11. The firm’s 50-day moving average price is $230.42 and its 200 day moving average price is $208.04. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, February 4th. The transportation company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.57 by $0.04. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $1.20 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Sell-side analysts forecast that Old Dominion Freight Line will post 5.61 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of ODFL. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 50.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,010 shares of the transportation company’s stock valued at $1,289,361,000 after purchasing an additional 2,214,190 shares during the last quarter. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $179,498,000. BlackRock Inc. lifted its position in shares of Old Dominion Freight Line by 6.3% in the fourth quarter. BlackRock Inc. now owns 8,084,935 shares of the transportation company’s stock valued at $1,578,017,000 after acquiring an additional 478,782 shares in the last quarter. Wells Fargo & Company MN lifted its position in Old Dominion Freight Line by 33.1% during the fourth quarter. Wells Fargo & Company MN now owns 699,248 shares of the transportation company’s stock worth $136,479,000 after buying an additional 173,737 shares during the period. Finally, KBC Group NV lifted its position in Old Dominion Freight Line by 73.8% during the fourth quarter. KBC Group NV now owns 380,358 shares of the transportation company’s stock worth $74,238,000 after buying an additional 161,526 shares during the period. 70.60% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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