JPMorgan Chase & Co. Issues Pessimistic Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $158.00 to $146.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 13.10% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. UBS Group dropped their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Raymond James Financial set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an "outperform" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $174.45.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $0.63 during mid-day trading on Tuesday, hitting $168.01. 896,589 shares of the company's stock traded hands, compared to its average volume of 1,654,103. The company's 50-day moving average is $162.96 and its two-hundred day moving average is $170.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $35.50 billion, a P/E ratio of 31.52, a PEG ratio of 3.46 and a beta of 1.25. Old Dominion Freight Line has a 1 year low of $144.90 and a 1 year high of $233.26.

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 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 EPS. On average, equities analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $39,000. Zions Bancorporation National Association UT acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $39,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after acquiring an additional 192 shares during the period. 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.