Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $160.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lifted by Jefferies Financial Group from $150.00 to $160.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price target points to a potential upside of 0.91% from the stock’s current price.

A number of other equities analysts also recently commented on ODFL. TD Cowen reduced their price objective on Old Dominion Freight Line from $159.00 to $154.00 in a research report on Thursday, October 30th. Wolfe Research increased their target price on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the stock an “underperform” rating in a research note on Monday, December 8th. Cantor Fitzgerald set a $165.00 price target on shares of Old Dominion Freight Line in a research note on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Finally, Rothschild Redb upgraded Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $155.58.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $158.55 on Friday. The firm has a market capitalization of $33.15 billion, a P/E ratio of 31.90, a PEG ratio of 7.70 and a beta of 1.27. The stock has a 50-day simple moving average of $140.98 and a two-hundred day simple moving average of $149.55. 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 fifty-two week low of $126.01 and a fifty-two week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $1.43 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in ODFL. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the second quarter worth $371,961,000. Boston Partners purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $292,599,000. Two Sigma Investments LP lifted its stake in shares of Old Dominion Freight Line by 637.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after purchasing an additional 1,362,697 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares during the period. Hedge funds and other 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.