Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $142.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 12.61% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. TD Cowen upped their price target on shares of Old Dominion Freight Line from $154.00 to $167.00 and gave the company a “hold” rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $160.79.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $171.65 on Monday. The company has a market capitalization of $35.89 billion, a P/E ratio of 34.54, a P/E/G ratio of 8.53 and a beta of 1.27. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $209.61. The firm’s 50 day simple moving average is $149.95 and its two-hundred day simple moving average is $149.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $1.43 EPS. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of large investors have recently modified their holdings of ODFL. Diversified Trust Co. increased its stake in shares of Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after acquiring an additional 65 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after acquiring an additional 67 shares during the period. YANKCOM Partnership lifted its stake in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after purchasing an additional 68 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its position in Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after acquiring an additional 71 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its stake in shares of Old Dominion Freight Line by 0.3% in the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors 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.