Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by stock analysts at Wells Fargo & Company from $185.00 to $160.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 5.14% from the company’s previous close.

ODFL has been the topic of several other research reports. Truist Financial started coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Citigroup lowered their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $201.40.

Old Dominion Freight Line Stock Up 0.6 %

ODFL stock opened at $168.67 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a 1-year low of $157.67 and a 1-year high of $233.26. The stock has a market capitalization of $35.85 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.89 and a beta of 1.10. The business has a fifty day moving average price of $183.51 and a 200-day moving average price of $193.88.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its holdings in shares of Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter worth $45,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the fourth quarter worth $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

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.