Old Dominion Freight Line (NASDAQ:ODFL) Given New $164.00 Price Target at UBS Group

Key Points

• UBS Group has raised its price target for Old Dominion Freight Line from $155.00 to $164.00, indicating a potential upside of 15.55% from its current price and maintaining a "neutral" rating on the stock.
• Other analysts have mixed views on the stock, with Stifel Nicolaus and Truist Financial giving "buy" ratings but varying target prices, while the consensus rating remains a "Hold" with an average target price of $166.52.
• The company's recent earnings report revealed a 6.1% year-over-year revenue decline and an EPS of $1.27, missing expectations by $0.02.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price target upped by stock analysts at UBS Group from $155.00 to $164.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. UBS Group's target price suggests a potential upside of 15.55% from the company's current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. Truist Financial raised their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a report on Monday, June 30th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $166.52.

Old Dominion Freight Line Stock Up 0.9%

Shares of NASDAQ ODFL opened at $141.94 on Friday. The firm has a market cap of $29.83 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.23 and a beta of 1.19. The company's 50-day simple moving average is $148.10 and its 200-day simple moving average is $156.79. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line has a 52-week low of $133.69 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $1.48 EPS. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts predict 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 institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $26,000. Rossby Financial LCC acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $28,000. Zions Bancorporation National Association UT purchased a new position in Old Dominion Freight Line in the first quarter worth approximately $39,000. Finally, Wayfinding Financial LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth $39,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

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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