Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $183.37 Consensus Target Price from Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned an average recommendation of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $183.37.

A number of research firms have weighed in on ODFL. Evercore ISI reduced their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Barclays reduced their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Stephens reiterated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its stake in shares of Old Dominion Freight Line by 9.4% during the 1st quarter. Public Sector Pension Investment Board now owns 24,998 shares of the transportation company’s stock worth $4,136,000 after purchasing an additional 2,140 shares during the period. Motley Fool Asset Management LLC increased its position in Old Dominion Freight Line by 4.6% during the 1st quarter. Motley Fool Asset Management LLC now owns 11,760 shares of the transportation company’s stock valued at $1,946,000 after purchasing an additional 512 shares during the period. Nuveen LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at $151,107,000. Invesco Ltd. lifted its position in Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock valued at $706,841,000 after acquiring an additional 53,079 shares during the last quarter. Finally, Fiduciary Family Office LLC purchased a new position in Old Dominion Freight Line during the 1st quarter worth $224,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $176.07 on Friday. The firm has a market capitalization of $37.21 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12 month low of $144.90 and a 12 month high of $233.26. The business’s 50-day moving average price is $159.87 and its 200-day moving average price is $184.32.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the business posted $1.34 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. Sell-side analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

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.