Old Dominion Freight Line (NASDAQ:ODFL) Given New $174.00 Price Target at Stephens

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by analysts at Stephens from $186.00 to $174.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Stephens’ target price would indicate a potential upside of 22.66% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday. Raymond James Financial reduced their price objective on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays set a $155.00 price objective on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday. Robert W. Baird initiated coverage on shares of Old Dominion Freight Line in a research report on Tuesday, July 1st. They set a “neutral” rating and a $164.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $175.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $168.38.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $141.85 on Thursday. Old Dominion Freight Line has a 12 month low of $141.73 and a 12 month high of $233.26. The stock has a market cap of $29.98 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.41 and a beta of 1.25. The company’s 50 day moving average is $162.22 and its two-hundred day moving average is $168.73. The company has a current ratio of 1.38, a quick ratio of 1.32 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. Old Dominion Freight Line’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Markel Group Inc. increased its position in Old Dominion Freight Line by 9.3% during the second quarter. Markel Group Inc. now owns 342,450 shares of the transportation company’s stock valued at $55,580,000 after acquiring an additional 29,250 shares during the last quarter. New York Life Investment Management LLC boosted its stake in shares of Old Dominion Freight Line by 10.8% during the second quarter. New York Life Investment Management LLC now owns 27,872 shares of the transportation company’s stock valued at $4,524,000 after purchasing an additional 2,726 shares during the period. Motley Fool Asset Management LLC boosted its stake in shares of Old Dominion Freight Line by 13.4% during the second quarter. Motley Fool Asset Management LLC now owns 13,331 shares of the transportation company’s stock valued at $2,164,000 after purchasing an additional 1,571 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Old Dominion Freight Line by 275.7% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 89,638 shares of the transportation company’s stock valued at $14,548,000 after purchasing an additional 65,776 shares during the period. Finally, Advisory Alpha LLC purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at $229,000. 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.