Old Dominion Freight Line (NASDAQ:ODFL) Coverage Initiated by Analysts at Robert W. Baird

Stock analysts at Robert W. Baird assumed coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) in a report released on Tuesday. The firm set a "neutral" rating and a $164.00 price target on the transportation company's stock. Robert W. Baird's price target indicates a potential upside of 1.05% from the company's previous close.

Several other research analysts have also weighed in on ODFL. Barclays dropped their price objective on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. 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. Stephens reissued an "overweight" rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. Finally, Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price target for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $174.55.

Old Dominion Freight Line Stock Down 0.8%

NASDAQ ODFL opened at $162.30 on Tuesday. The company has a market capitalization of $34.30 billion, a P/E ratio of 30.45, a PEG ratio of 3.37 and a beta of 1.27. Old Dominion Freight Line has a 12 month low of $144.90 and a 12 month high of $233.26. The company's 50 day simple moving average is $160.61 and its 200 day simple moving average is $171.70. 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 issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business posted $1.34 EPS. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently added to or reduced their stakes in ODFL. Larson Financial Group LLC increased its position in shares of Old Dominion Freight Line by 234.8% during the first 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 during the period. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the first quarter worth $30,000. Itau Unibanco Holding S.A. increased its holdings in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares during the period. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line in the 1st quarter valued at $39,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line in the 1st quarter valued at $39,000. Institutional investors and hedge funds 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.

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