Jefferies Financial Group Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $165.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by analysts at Jefferies Financial Group from $195.00 to $165.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 11.15% from the company’s previous close.

ODFL has been the subject of several other reports. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Raymond James cut their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $195.75.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded up $0.11 during midday trading on Wednesday, reaching $148.45. The company’s stock had a trading volume of 257,556 shares, compared to its average volume of 1,650,075. The stock has a market cap of $31.55 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $177.36 and a 200-day moving average price of $191.48. Old Dominion Freight Line has a 52 week low of $143.23 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate 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%. On average, sell-side analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Old Dominion Freight Line by 4.2% in the third quarter. Janus Henderson Group PLC now owns 22,671 shares of the transportation company’s stock worth $4,505,000 after purchasing an additional 917 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 7.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 86,772 shares of the transportation company’s stock worth $17,236,000 after purchasing an additional 5,957 shares during the period. M&T Bank Corp lifted its holdings in Old Dominion Freight Line by 2.1% during the third quarter. M&T Bank Corp now owns 25,329 shares of the transportation company’s stock worth $5,031,000 after buying an additional 520 shares during the period. Geode Capital Management LLC boosted its position in Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Old Dominion Freight Line by 6.7% in the third quarter. Coldstream Capital Management Inc. now owns 3,639 shares of the transportation company’s stock valued at $728,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.