Stephens Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $174.00

Key Points

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Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price cut by equities research analysts at Stephens from $186.00 to $174.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. Stephens' target price points to a potential upside of 22.66% from the stock's previous close.

ODFL has been the topic of a number of other reports. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus lifted their price target on Old Dominion Freight Line from $175.00 to $183.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Evercore ISI cut their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Barclays set a $155.00 price target on Old Dominion Freight Line and gave the company an "equal weight" rating in a research note on Thursday. Finally, Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price target for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $168.38.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $7.40 during trading hours on Thursday, hitting $141.85. The company's stock had a trading volume of 2,653,868 shares, compared to its average volume of 1,744,677. The stock has a fifty day simple moving average of $162.22 and a 200-day simple moving average of $168.73. The company has a market capitalization of $29.98 billion, a P/E ratio of 27.71, a PEG ratio of 3.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32. Old Dominion Freight Line has a twelve month low of $141.73 and a twelve month high of $233.26.

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 19.42% and a return on equity of 25.94%. 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. On average, analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after acquiring an additional 96,410 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $411,000. Huntington National Bank increased its holdings in shares of Old Dominion Freight Line by 10.6% during the fourth quarter. Huntington National Bank now owns 1,008 shares of the transportation company's stock valued at $178,000 after acquiring an additional 97 shares in the last quarter. Finally, World Investment Advisors bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $360,000. 77.82% of the stock is currently owned by institutional investors.

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.