Old Dominion Freight Line (NASDAQ:ODFL) Given New $146.00 Price Target at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $158.00 to $146.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s target price points to a potential downside of 12.96% from the company's current price.

ODFL has been the topic of a number of other reports. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Raymond James Financial set a $185.00 price objective on Old Dominion Freight Line and gave the company an "outperform" rating in a report on Thursday, April 24th. Stifel Nicolaus lowered their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their target price for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $174.45.

Old Dominion Freight Line Price Performance

ODFL traded down $3.39 during midday trading on Tuesday, hitting $167.73. 1,137,576 shares of the company traded hands, compared to its average volume of 1,651,920. The business has a 50 day simple moving average of $163.56 and a two-hundred day simple moving average of $170.70. Old Dominion Freight Line has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a market capitalization of $35.44 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 3.55 and a beta of 1.25. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $1.34 EPS. Old Dominion Freight Line's quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the last quarter. Geode Capital Management LLC boosted its stake in Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after buying an additional 96,410 shares during the period. Invesco Ltd. increased its position in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock valued at $706,841,000 after acquiring an additional 53,079 shares during the last quarter. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after acquiring an additional 1,151,221 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

About Old Dominion Freight Line

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.