Old Dominion Freight Line (NASDAQ:ODFL) Given New $185.00 Price Target at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by investment analysts at Barclays from $195.00 to $185.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective indicates a potential upside of 18.78% from the company’s current price.

Several other brokerages also recently commented on ODFL. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Morgan Stanley increased their price target on shares of 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. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price objective for the company from $193.00 to $200.00 in a research report on Monday, February 24th. Bank of America decreased their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price target for the company. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $199.70.

Old Dominion Freight Line Stock Performance

ODFL opened at $155.75 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $33.10 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock has a 50-day moving average of $180.59 and a 200-day moving average of $192.81. Old Dominion Freight Line has a 52-week low of $153.02 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 earnings per share (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%. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its stake 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 buying an additional 192 shares during the period. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $51,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 98.2% during the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 168 shares during the period. 77.82% of the stock is owned by institutional investors.

About Old Dominion Freight Line

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.