Jefferies Financial Group Issues Positive Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price target hoisted by equities research analysts at Jefferies Financial Group from $150.00 to $160.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 0.91% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $172.00 to $170.00 in a research report on Monday, December 1st. Rothschild Redb upgraded Old Dominion Freight Line to a “strong sell” rating in a report on Wednesday, November 26th. Raymond James Financial reiterated an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. Evercore ISI dropped their price target on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald set a $165.00 target price on shares of Old Dominion Freight Line in a research note on Thursday. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $155.58.

Old Dominion Freight Line Price Performance

ODFL stock opened at $158.55 on Friday. The company has a market cap of $33.15 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 7.70 and a beta of 1.27. 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 stock has a 50-day moving average price of $140.98 and a two-hundred day moving average price of $149.55. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share 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 firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company posted $1.43 earnings per share. Old Dominion Freight Line’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts predict 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 have recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Old Dominion Freight Line by 17.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,806 shares of the transportation company’s stock valued at $1,126,000 after acquiring an additional 999 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Old Dominion Freight Line by 4.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,039 shares of the transportation company’s stock worth $668,000 after purchasing an additional 172 shares during the period. Erste Asset Management GmbH grew its holdings in shares of Old Dominion Freight Line by 23.2% during the 1st quarter. Erste Asset Management GmbH now owns 21,240 shares of the transportation company’s stock valued at $3,514,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Old Dominion Freight Line by 46.5% in the first quarter. Norinchukin Bank The now owns 15,719 shares of the transportation company’s stock worth $2,601,000 after acquiring an additional 4,986 shares during the last quarter. Hedge funds and other institutional investors 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.