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

Key Points

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective cut by equities research analysts at UBS Group from $158.00 to $155.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the transportation company's stock. UBS Group's price target suggests a potential upside of 3.92% from the company's previous close.

Several other research analysts also recently commented on the company. Bank of America lifted their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Raymond James Financial decreased their target price on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $190.00 to $200.00 in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $170.76.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded up $2.70 during trading on Thursday, hitting $149.16. 677,781 shares of the company were exchanged, compared to its average volume of 1,815,191. Old Dominion Freight Line has a 1-year low of $144.50 and a 1-year high of $233.26. The company has a market capitalization of $31.52 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $162.90 and its 200-day moving average is $169.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently added to or reduced their stakes in ODFL. Lido Advisors LLC grew its holdings in Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after purchasing an additional 59 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company's stock valued at $799,000 after purchasing an additional 63 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Old Dominion Freight Line by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock worth $405,000 after acquiring an additional 67 shares in the last quarter. Stephens Inc. AR increased its position in shares of Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company's stock valued at $1,665,000 after buying an additional 67 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock valued at $268,000 after purchasing an additional 71 shares during the period. 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.

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