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

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by equities researchers at Jefferies Financial Group from $195.00 to $165.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 5.26% from the stock’s current price.

Several other research analysts also recently weighed in on ODFL. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Susquehanna reduced their price target on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 target price for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $195.75.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $156.75 on Wednesday. The business has a 50-day simple moving average of $176.03 and a 200-day simple moving average of $190.80. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $33.32 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line has a 52-week low of $145.79 and a 52-week high of $233.26.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth $494,916,000. T. Rowe Price Investment Management Inc. grew its position in shares of Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock valued at $255,390,000 after purchasing an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $114,449,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after buying an additional 573,586 shares during the last quarter. Institutional investors and hedge funds 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.