Old Dominion Freight Line (NASDAQ:ODFL) PT Raised to $175.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target boosted by stock analysts at Bank of America from $172.00 to $175.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential downside of 3.47% from the company’s current price.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Citigroup set a $185.00 price objective on Old Dominion Freight Line and gave the company a “hold” rating in a research note on Friday, October 25th. KeyCorp restated an “overweight” rating on shares of Old Dominion Freight Line in a research note on Friday, October 25th. Stephens set a $203.00 target price on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Morgan Stanley set a $146.00 target price on Old Dominion Freight Line and gave the stock a “hold” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $168.46.

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NASDAQ ODFL opened at $181.30 on Wednesday. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 3.02 and a beta of 1.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.03 and a quick ratio of 2.03. Old Dominion Freight Line has a 12 month low of $115.00 and a 12 month high of $197.25. The company’s fifty day moving average price is $188.23 and its two-hundred day moving average price is $164.32.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 24th. The transportation company reported $2.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.11 by ($0.06). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.62% and a net margin of 15.29%. Old Dominion Freight Line’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. As a group, analysts anticipate that Old Dominion Freight Line will post 7.73 EPS for the current year.

In related news, Chairman Earl E. Congdon sold 23,500 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $181.94, for a total transaction of $4,275,590.00. Following the sale, the chairman now owns 10,854 shares in the company, valued at $1,974,776.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.90% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC boosted its position in Old Dominion Freight Line by 155.2% during the 2nd quarter. Quantamental Technologies LLC now owns 171 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 104 shares during the period. CSat Investment Advisory L.P. bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $28,000. Cerebellum GP LLC bought a new position in shares of Old Dominion Freight Line during the third quarter worth about $38,000. Steward Partners Investment Advisory LLC grew its position in shares of Old Dominion Freight Line by 59.4% during the third quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the transportation company’s stock worth $38,000 after acquiring an additional 85 shares during the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $45,000. Institutional investors own 75.35% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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