Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $168.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by equities research analysts at Morgan Stanley from $174.00 to $168.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential downside of 5.83% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays reduced their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, April 29th. Wells Fargo & Company assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They set an “underweight” rating and a $175.00 price objective for the company. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $200.55.

Old Dominion Freight Line Stock Down 1.5 %

ODFL opened at $178.41 on Monday. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $177.05 and a 200 day moving average price of $199.22. The company has a market cap of $38.77 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Sell-side analysts expect that Old Dominion Freight Line will post 5.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Headinvest LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.