Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $190.00 by Analysts at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by analysts at Raymond James from $215.00 to $190.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target would suggest a potential upside of 8.66% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. BMO Capital Markets started coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research report on Monday, April 29th. Finally, Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective on the stock in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $201.18.

Old Dominion Freight Line Stock Down 0.7 %

Shares of NASDAQ ODFL opened at $174.85 on Monday. The stock has a market cap of $37.99 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.27 and a beta of 1.02. The firm has a 50 day moving average price of $181.20 and a 200 day moving average price of $200.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line has a 52-week low of $163.30 and a 52-week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Analysts expect that Old Dominion Freight Line will post 5.98 EPS for the current year.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of Old Dominion Freight Line by 3,746.2% in the third quarter. Acadian Asset Management LLC now owns 6,500 shares of the transportation company’s stock valued at $2,656,000 after purchasing an additional 6,331 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Old Dominion Freight Line by 11.8% in the third quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock valued at $17,832,000 after purchasing an additional 4,585 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Old Dominion Freight Line by 5,762.0% in the third quarter. Federated Hermes Inc. now owns 30,658 shares of the transportation company’s stock valued at $12,543,000 after purchasing an additional 30,135 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Old Dominion Freight Line by 14.6% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 30 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Old Dominion Freight Line by 77.2% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,249 shares of the transportation company’s stock valued at $920,000 after purchasing an additional 980 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

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.