Old Dominion Freight Line (ODFL) Given New $153.00 Price Target at Buckingham Research

Old Dominion Freight Line (NASDAQ:ODFL) had its target price raised by equities research analysts at Buckingham Research from $144.00 to $153.00 in a research note issued on Friday. The brokerage presently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s target price would suggest a potential upside of 17.57% from the company’s current price.

ODFL has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $117.00 price objective (up previously from $111.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 13th. Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a research report on Tuesday, December 5th. KeyCorp reiterated a “buy” rating and issued a $115.00 target price on shares of Old Dominion Freight Line in a report on Thursday, October 12th. Credit Suisse Group reiterated a “buy” rating and issued a $142.00 target price (up from $128.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 6th. Finally, Zacks Investment Research lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $122.08.

Old Dominion Freight Line (NASDAQ ODFL) traded down $1.57 on Friday, reaching $130.14. 1,587,835 shares of the company’s stock were exchanged, compared to its average volume of 670,855. Old Dominion Freight Line has a one year low of $80.56 and a one year high of $150.31. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $11,698.21, a PE ratio of 32.05 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, February 8th. The transportation company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The company had revenue of $891.12 million during the quarter, compared to analysts’ expectations of $879.00 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. analysts predict that Old Dominion Freight Line will post 4.35 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. American International Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. American International Group Inc. now owns 141,422 shares of the transportation company’s stock worth $18,604,000 after acquiring an additional 1,530 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in shares of Old Dominion Freight Line by 207.3% in the 4th quarter. Employees Retirement System of Texas now owns 126,000 shares of the transportation company’s stock worth $16,575,000 after acquiring an additional 85,000 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Old Dominion Freight Line by 107.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 145,865 shares of the transportation company’s stock worth $19,189,000 after acquiring an additional 75,628 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Old Dominion Freight Line by 12.5% in the 4th quarter. BlackRock Inc. now owns 5,999,272 shares of the transportation company’s stock worth $789,203,000 after acquiring an additional 667,711 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Old Dominion Freight Line by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 796,922 shares of the transportation company’s stock worth $104,836,000 after acquiring an additional 52,019 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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