Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $188.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by Stifel Nicolaus from $173.00 to $188.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other analysts have also weighed in on the stock. Evercore ISI set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an “in-line” rating in a report on Monday, January 12th. Cantor Fitzgerald set a $165.00 price target on Old Dominion Freight Line in a research report on Thursday, December 18th. Morgan Stanley upgraded Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $165.00 to $190.00 in a research report on Monday, December 8th. Zacks Research cut Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, Stephens restated an “overweight” rating and set a $190.00 target price on shares of Old Dominion Freight Line in a report on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $163.33.

Old Dominion Freight Line Stock Down 2.2%

Shares of Old Dominion Freight Line stock opened at $174.30 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $209.61. The company’s 50 day moving average price is $155.98 and its 200-day moving average price is $150.34. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 8.86 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during 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%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. Equities research analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODFL. Financial Gravity Companies Inc. purchased a new position in Old Dominion Freight Line during the second quarter valued at $26,000. Rossby Financial LCC bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. lifted its position in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $37,000. 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.