Robert W. Baird Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $148.00

Key Points

• Robert W. Baird has lowered the price target for Old Dominion Freight Line from $164.00 to $148.00, maintaining a "neutral" rating.
• The company's stock has received mixed ratings from analysts, with a significant number giving it a "hold" rating, and an average price target of $167.62.
• Old Dominion Freight Line reported a 6.1% decline in revenue year-over-year for its last quarterly earnings, with EPS of $1.27 missing expectations.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price cut by investment analysts at Robert W. Baird from $164.00 to $148.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. Robert W. Baird's price target suggests a potential upside of 4.34% from the company's current price.

Several other analysts have also recently weighed in on the stock. Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Stephens decreased their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research report on Thursday. Bank of America raised their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Truist Financial increased their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $141.85 on Monday. The business has a 50 day simple moving average of $162.22 and a 200 day simple moving average of $168.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32. The company has a market capitalization of $29.98 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 3.27 and a beta of 1.24. Old Dominion Freight Line has a one year low of $141.73 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) 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 in the prior year, the company earned $1.48 earnings per share. The business's revenue 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 Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake in 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 valued at $25,000 after purchasing an additional 108 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $28,000. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $30,000. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line in the first quarter valued at $39,000. Finally, Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line during the first quarter worth $39,000. 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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