Evercore ISI Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Key Points

• Evercore ISI has reduced its price target for Old Dominion Freight Line's stock from $155.00 to $143.00, indicating a potential upside of 2.67% from the previous close.
• Multiple analysts have adjusted their ratings, with a consensus rating of "Hold" and an average price target of $166.33 for the stock.
• Old Dominion's recent earnings report revealed an EPS of $1.27, falling short of the consensus estimate of $1.29, with a year-over-year revenue decline of 6.1%.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective lowered by equities researchers at Evercore ISI from $155.00 to $143.00 in a research note issued to investors on Tuesday,MarketScreener reports. Evercore ISI's price target would indicate a potential upside of 2.67% from the company's previous close.

A number of other research analysts also recently issued reports on ODFL. Raymond James Financial dropped their target price 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, July 31st. Susquehanna upped their target price on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. Barclays set a $155.00 price objective on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average price target of $166.33.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $139.28 on Tuesday. Old Dominion Freight Line has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The firm's fifty day moving average price is $149.70 and its two-hundred day moving average price is $157.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $29.27 billion, a PE ratio of 27.55, a PEG ratio of 3.22 and a beta of 1.23.

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

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in Old Dominion Freight Line during the 2nd quarter valued at approximately $371,961,000. T. Rowe Price Investment Management Inc. increased its stake in Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock valued at $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. Nuveen LLC bought a new position in shares of Old Dominion Freight Line in the first quarter worth approximately $151,107,000. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock valued at $402,002,000 after acquiring an additional 754,796 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Old Dominion Freight Line by 63.8% in the second quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company's stock worth $246,867,000 after purchasing an additional 592,605 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.

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