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Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $159.00 at TD Cowen

Old Dominion Freight Line logo with Transportation background

Key Points

  • TD Cowen has lowered its price target for Old Dominion Freight Line from $166.00 to $159.00, maintaining a "hold" rating on the stock, which indicates a potential upside of 8.56% from its previous close.
  • Multiple analysts have adjusted their price targets for Old Dominion Freight Line, with JPMorgan Chase decreasing their target to $146.00 and Jefferies Financial Group lowering it to $165.00.
  • The company reported a quarterly earnings miss with an EPS of $1.27, falling short of analysts' expectations of $1.29, and its quarterly revenue has decreased by 6.1% year-over-year.
  • Five stocks to consider instead of Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price objective reduced by TD Cowen from $166.00 to $159.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the transportation company's stock.

Other analysts have also issued research reports about the company. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Evercore ISI reduced their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Baird R W raised Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Finally, Benchmark reaffirmed a "hold" rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $168.38.

Check Out Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Stock Down 5.0%

Shares of Old Dominion Freight Line stock traded down $7.40 on Thursday, reaching $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 company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 3.41 and a beta of 1.24. The firm's fifty day simple moving average is $162.22 and its two-hundred day simple moving average is $168.73. Old Dominion Freight Line has a 52 week low of $141.73 and a 52 week high of $233.26. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its 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). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. Equities analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is presently 21.01%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently made changes to their positions in the business. Lido Advisors LLC lifted its position in shares of Old Dominion Freight Line by 3.2% in the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after acquiring an additional 59 shares in the last quarter. Integrated Wealth Concepts LLC lifted 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 acquiring an additional 63 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Old Dominion Freight Line by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock valued at $405,000 after acquiring an additional 67 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Old Dominion Freight Line by 0.7% in the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company's stock worth $1,665,000 after buying an additional 67 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Old Dominion Freight Line by 4.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after buying an additional 71 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

(Get Free Report)

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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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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