Jefferies Financial Group Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by investment analysts at Jefferies Financial Group from $150.00 to $160.00 in a research report issued on Friday,MarketScreener reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 1.66% from the company’s current price.

A number of other equities research analysts also recently weighed in on ODFL. Rothschild Redb raised shares of Old Dominion Freight Line to a “strong sell” rating in a research report on Wednesday, November 26th. Susquehanna increased their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Barclays reduced their price objective on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Citigroup reaffirmed a “buy” rating and issued a $170.00 target price (up from $168.00) on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $155.58.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $157.39 on Friday. 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. The firm has a market cap of $32.91 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 7.78 and a beta of 1.27. The stock has a 50 day moving average of $141.44 and a 200-day moving average of $149.44.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.43 earnings per share. As a group, analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after buying an additional 123 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $37,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.