KeyCorp Increases Old Dominion Freight Line (ODFL) Price Target to $138.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective upped by KeyCorp from $125.00 to $138.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “overweight” rating on the transportation company’s stock. KeyCorp’s target price points to a potential upside of 7.32% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Cowen reiterated a “hold” rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a research note on Friday, September 1st. Bank of America downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $105.00 to $102.00 in a research note on Tuesday, October 10th. They noted that the move was a valuation call. Credit Suisse Group reiterated an “outperform” rating and set a $119.00 price objective (up from $110.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. They noted that the move was a valuation call. Citigroup boosted their price objective on Old Dominion Freight Line from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Buckingham Research boosted their price target on Old Dominion Freight Line from $105.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $112.00.

Old Dominion Freight Line (ODFL) opened at $128.59 on Tuesday. The stock has a market capitalization of $10,522.70, a P/E ratio of 31.46, a P/E/G ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. Old Dominion Freight Line has a 52 week low of $80.56 and a 52 week high of $130.71.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The company had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. research analysts predict that Old Dominion Freight Line will post 4.28 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Aperio Group LLC lifted its holdings in Old Dominion Freight Line by 0.7% in the 2nd quarter. Aperio Group LLC now owns 23,868 shares of the transportation company’s stock worth $2,273,000 after purchasing an additional 157 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Old Dominion Freight Line by 229.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock worth $15,965,000 after acquiring an additional 116,777 shares in the last quarter. Strs Ohio purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $2,381,000. Janney Montgomery Scott LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $975,000. Finally, World Asset Management Inc raised its holdings in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. World Asset Management Inc now owns 4,853 shares of the transportation company’s stock worth $462,000 after acquiring an additional 212 shares in the last quarter. 72.45% of the stock is currently owned by institutional investors.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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