Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $155.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered the price target for Old Dominion Freight Line from $160.00 to $155.00, maintaining a "hold" rating on the stock.
• Old Dominion Freight Line's stock is currently trading at $141.49, which reflects a decline of 2.3% from the previous trading session.
• The company reported earnings of $1.27 per share, missing analysts' estimates, and experienced a 6.1% year-over-year decrease in revenue for the quarter.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price target cut by Jefferies Financial Group from $160.00 to $155.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a "hold" rating on the transportation company's stock. Jefferies Financial Group's price objective would suggest a potential upside of 9.55% from the stock's previous close.

A number of other analysts have also commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Old Dominion Freight Line in a report on Wednesday. Raymond James Financial reduced their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. Evercore ISI reduced their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating for the company in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set a "neutral" rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $164.09.

Old Dominion Freight Line Stock Down 2.3%

Old Dominion Freight Line stock traded down $3.29 during mid-day trading on Thursday, reaching $141.49. The stock had a trading volume of 81,501 shares, compared to its average volume of 1,866,072. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. Old Dominion Freight Line has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The stock's 50-day simple moving average is $146.70 and its 200-day simple moving average is $156.23. The firm has a market capitalization of $29.74 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 3.31 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, sell-side analysts forecast 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 ODFL. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% during the 1st 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. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at $26,000. Rossby Financial LCC purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at $28,000. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at $39,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

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.

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