Barclays Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $150.00

Key Points

• Barclays has lowered its price target for Old Dominion Freight Line from $155.00 to $150.00, maintaining an "equal weight" rating, which suggests a potential upside of about 6.55% from the current stock price.
• Other analysts have also reduced their price targets, with Wells Fargo & Company setting theirs at $145.00 and Robert W. Baird at $148.00, reflecting a cautious outlook on the company's performance.
• Old Dominion Freight Line reported a quarterly earnings miss, with an EPS of $1.27 against an expected $1.29, indicating challenges in revenue generation and a 6.1% year-over-year decline in revenue.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective reduced by research analysts at Barclays from $155.00 to $150.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an "equal weight" rating on the transportation company's stock. Barclays's price target would indicate a potential upside of 6.55% from the stock's current price.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating for the company in a research note on Tuesday. Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Citigroup dropped their target price on Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $166.10.

Old Dominion Freight Line Trading Down 0.2%

Shares of ODFL stock opened at $140.78 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line has a twelve month low of $133.69 and a twelve month high of $233.26. The company's 50-day moving average price is $149.18 and its 200-day moving average price is $157.09. The stock has a market cap of $29.59 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.28 and a beta of 1.23.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its holdings in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. Zions Bancorporation National Association UT bought a new position in Old Dominion Freight Line in the 1st quarter worth about $39,000. Finally, Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $39,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, 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.

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