Old Dominion Freight Line (ODFL) Price Target Cut to $145.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by investment analysts at Argus from $175.00 to $145.00 in a report released on Monday. The firm presently has a “buy” rating on the transportation company’s stock. Argus’ target price suggests a potential upside of 14.89% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the company an “underperform” rating in a research report on Thursday, August 30th. Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $158.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. BidaskClub cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Buckingham Research lowered their price target on shares of Old Dominion Freight Line from $162.00 to $154.00 and set a “neutral” rating for the company in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $146.25.

Shares of NASDAQ ODFL opened at $126.21 on Monday. Old Dominion Freight Line has a 1 year low of $116.61 and a 1 year high of $170.22. The stock has a market cap of $10.20 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, research analysts forecast that Old Dominion Freight Line will post 7.06 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. GWM Advisors LLC raised its holdings in Old Dominion Freight Line by 414.3% in the third quarter. GWM Advisors LLC now owns 11,088 shares of the transportation company’s stock worth $1,788,000 after buying an additional 8,932 shares during the last quarter. Checchi Capital Advisers LLC purchased a new position in Old Dominion Freight Line in the third quarter worth about $201,000. Scott & Selber Inc. purchased a new position in Old Dominion Freight Line in the third quarter worth about $1,728,000. Assenagon Asset Management S.A. purchased a new position in Old Dominion Freight Line in the third quarter worth about $13,094,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Old Dominion Freight Line by 132.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 286,730 shares of the transportation company’s stock worth $44,717,000 after buying an additional 163,258 shares during the last quarter. 72.75% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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