TD Cowen Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $167.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by equities researchers at TD Cowen from $154.00 to $167.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective suggests a potential downside of 3.54% from the company’s previous close.

Several other research analysts have also recently issued reports on ODFL. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Bank of America increased their price target on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Rothschild & Co Redburn assumed coverage on shares of Old Dominion Freight Line in a research note on Wednesday, November 26th. They issued a “sell” rating and a $114.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $170.00 target price on shares of Old Dominion Freight Line in a report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $160.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $173.13 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 50-day moving average price of $148.62 and a 200 day moving average price of $149.59. The company has a market cap of $36.20 billion, a P/E ratio of 34.84, a PEG ratio of 8.42 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

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

Institutional Investors Weigh In On Old Dominion Freight Line

A number of large investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line in the second quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its stake in Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Rossby Financial LCC purchased a new position in Old Dominion Freight Line in the 2nd quarter valued at about $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.