The Goldman Sachs Group Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $186.00

Key Points

• The Goldman Sachs Group has lowered its price target for Old Dominion Freight Line (NASDAQ:ODFL) from $195.00 to $186.00, while maintaining a "buy" rating on the stock.
• Old Dominion Freight Line's stock opened at $140.38 and has a market cap of $29.50 billion.
• Analyst ratings for Old Dominion include eight "buy," fifteen "hold," and one "sell," resulting in an average rating of "hold" and a consensus target price of $164.55.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price lowered by analysts at The Goldman Sachs Group from $195.00 to $186.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the transportation company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 32.50% from the stock's previous close.

A number of other equities analysts have also issued reports on ODFL. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Benchmark reaffirmed a "hold" rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Thursday, July 31st. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Evercore ISI lowered their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 30th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $164.55.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $140.38 on Wednesday. The stock has a market cap of $29.50 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 3.35 and a beta of 1.19. The company has a fifty day simple moving average of $146.74 and a 200-day simple moving average of $156.31. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26.

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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.48 EPS. Equities analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds have recently made changes to their positions in ODFL. Vanguard Group Inc. raised its position in shares of Old Dominion Freight Line by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company's stock worth $3,693,663,000 after buying an additional 91,842 shares during the period. Invesco Ltd. increased its stake in Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock worth $706,841,000 after acquiring an additional 53,079 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Old Dominion Freight Line by 20.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company's stock worth $474,292,000 after purchasing an additional 492,563 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock valued at $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $371,961,000. Institutional investors and hedge funds 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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