JPMorgan Chase & Co. Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $142.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $144.00 to $142.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 4.63% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Rothschild Redb raised shares of Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group lowered their target price on shares of Old Dominion Freight Line from $186.00 to $181.00 in a research note on Thursday, October 30th. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wolfe Research raised their price objective on Old Dominion Freight Line from $140.00 to $141.00 and gave the stock an “underperform” rating in a report on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $157.48.

Old Dominion Freight Line Trading Down 1.8%

Old Dominion Freight Line stock opened at $148.89 on Monday. The stock has a market cap of $31.13 billion, a PE ratio of 29.96, a P/E/G ratio of 3.96 and a beta of 1.27. The stock has a 50-day moving average price of $138.72 and a 200 day moving average price of $149.58. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $209.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the period. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth approximately $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. 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.