Wolfe Research Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $140.00

Key Points

• Wolfe Research has raised the price target for Old Dominion Freight Line (NASDAQ:ODFL) from $129.00 to $140.00, indicating a slight potential downside from the stock's previous close.
• Old Dominion Freight Line reported earnings of $1.27 per share in its last earnings release, falling short of analysts' estimates of $1.29.
• The stock has received mixed ratings from analysts, with eight recommending a Buy rating, fifteen holding, and one selling, resulting in a consensus rating of "Hold".

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price hoisted by equities research analysts at Wolfe Research from $129.00 to $140.00 in a report released on Tuesday,MarketScreener reports. Wolfe Research's price objective would suggest a potential downside of 0.27% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Evercore ISI lowered their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating for the company in a research note on Tuesday, September 30th. Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. TD Cowen dropped their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. UBS Group raised their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Finally, Morgan Stanley reduced their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Eight 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, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $164.55.

Old Dominion Freight Line Trading Down 1.7%

Shares of ODFL stock opened at $140.38 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $29.50 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.35 and a beta of 1.19. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26. The stock's 50-day moving average price is $146.74 and its 200-day moving average price is $156.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share 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 analysts' expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after buying an additional 108 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at $26,000. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $28,000. Wayfinding Financial LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth about $39,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at about $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.

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