Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $190.00 by Analysts at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by equities research analysts at Raymond James from $215.00 to $190.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target would suggest a potential upside of 6.62% from the stock’s current price.

Several other brokerages have also recently issued reports on ODFL. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price on the stock in a report on Wednesday, May 8th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Bank of America lowered their price target on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. UBS Group boosted their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company started coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $202.71.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded up $3.31 during trading hours on Monday, hitting $178.20. 196,126 shares of the company’s stock traded hands, compared to its average volume of 1,575,434. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a market cap of $38.72 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.27 and a beta of 1.02. The business’s fifty day simple moving average is $182.99 and its two-hundred day simple moving average is $200.61. Old Dominion Freight Line has a 52 week low of $163.30 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, research analysts anticipate that Old Dominion Freight Line will post 5.98 earnings per share for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently modified their holdings of ODFL. SRN Advisors LLC raised its holdings in Old Dominion Freight Line by 111.2% during the 1st quarter. SRN Advisors LLC now owns 6,046 shares of the transportation company’s stock valued at $1,326,000 after buying an additional 3,183 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Old Dominion Freight Line by 133.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,059 shares of the transportation company’s stock worth $452,000 after purchasing an additional 1,176 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Old Dominion Freight Line by 58.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 37,457 shares of the transportation company’s stock worth $8,215,000 after purchasing an additional 13,870 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Old Dominion Freight Line by 89.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,688 shares of the transportation company’s stock worth $3,222,000 after acquiring an additional 6,944 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Old Dominion Freight Line by 873.9% during the first quarter. Cetera Advisors LLC now owns 9,262 shares of the transportation company’s stock worth $2,031,000 after acquiring an additional 8,311 shares during 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, 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.