Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $182.00 at The Goldman Sachs Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by analysts at The Goldman Sachs Group from $181.00 to $182.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 2.13% from the company’s previous close.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $142.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group raised their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 19th. Raymond James Financial reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. Finally, Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $162.71.

Old Dominion Freight Line Stock Up 2.7%

Shares of NASDAQ:ODFL traded up $4.69 during midday trading on Wednesday, reaching $178.21. The company’s stock had a trading volume of 2,101,058 shares, compared to its average volume of 1,878,197. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $150.60 and a 200-day moving average of $149.83. The firm has a market capitalization of $37.26 billion, a P/E ratio of 35.86, a PEG ratio of 8.43 and a beta of 1.27. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Diversified Trust Co. increased its stake in Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after acquiring an additional 65 shares during the last quarter. Stephens Inc. AR raised its position in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership lifted its holdings in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its position in Old Dominion Freight Line by 4.4% in the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after acquiring an additional 71 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its position in Old Dominion Freight Line by 0.3% in the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.