Truist Financial Initiates Coverage on Old Dominion Freight Line (NASDAQ:ODFL)

Stock analysts at Truist Financial assumed coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $220.00 price target on the transportation company’s stock. Truist Financial’s price objective suggests a potential upside of 35.38% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Citigroup lowered their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Barclays lowered their target price on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Evercore ISI increased their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $202.65.

Old Dominion Freight Line Trading Down 0.3 %

Shares of ODFL opened at $162.50 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a 1 year low of $159.35 and a 1 year high of $233.26. The company has a 50 day simple moving average of $186.05 and a two-hundred day simple moving average of $195.33. The firm has a market cap of $34.54 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $494,916,000. T. Rowe Price Investment Management Inc. grew its stake in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock valued at $255,390,000 after purchasing an additional 1,361,397 shares during the last quarter. Wellington Management Group LLP grew its stake in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $128,221,000. Finally, Raymond James Financial Inc. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $114,449,000. 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.