Truist Financial Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $180.00

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $175.00 to $180.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Truist Financial's price target would suggest a potential upside of 5.70% from the stock's current price.

A number of other brokerages have also weighed in on ODFL. Bank of America lifted their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Raymond James Financial set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, UBS Group dropped their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $174.55.

Old Dominion Freight Line Trading Up 0.3%

Shares of NASDAQ:ODFL traded up $0.45 on Monday, hitting $170.30. 104,592 shares of the company's stock were exchanged, compared to its average volume of 1,644,838. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 3.47 and a beta of 1.25. Old Dominion Freight Line has a 12 month low of $144.90 and a 12 month high of $233.26. The business's 50 day simple moving average is $161.27 and its two-hundred day simple moving average is $171.67. 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 released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the company earned $1.34 EPS. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in Old Dominion Freight Line during the 1st quarter valued at approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $39,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after acquiring an additional 192 shares during the period. 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.