JPMorgan Chase & Co. Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $146.00

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $158.00 to $146.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 14.68% from the stock's current price.

A number of other equities analysts also recently commented on the company. Raymond James Financial set a $185.00 target price on Old Dominion Freight Line and gave the company an "outperform" rating in a research note on Thursday, April 24th. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Evercore ISI dropped their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group dropped their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. One 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $174.45.

Old Dominion Freight Line Stock Up 1.9%

NASDAQ:ODFL traded up $3.11 during mid-day trading on Tuesday, reaching $171.12. The stock had a trading volume of 1,262,318 shares, compared to its average volume of 1,652,542. The company has a market capitalization of $36.16 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth 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. The stock's 50 day simple moving average is $162.96 and its two-hundred day simple 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.

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

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors and hedge funds have recently modified their holdings of ODFL. Brighton Jones LLC grew its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Old Dominion Freight Line by 8.4% during the fourth quarter. Jones Financial Companies Lllp now owns 2,730 shares of the transportation company's stock valued at $482,000 after buying an additional 212 shares in the last quarter. Assetmark Inc. lifted its position in shares of Old Dominion Freight Line by 9.4% in the fourth quarter. Assetmark Inc. now owns 1,600 shares of the transportation company's stock worth $282,000 after buying an additional 137 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $283,000. Finally, Callan Family Office LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $307,000. 77.82% of the stock is currently 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.