Morgan Stanley Boosts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $170.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by research analysts at Morgan Stanley from $165.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s target price indicates a potential downside of 13.79% from the stock’s previous close.

Several other research firms have also recently commented on ODFL. Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays cut their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Jefferies Financial Group upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Finally, Susquehanna reiterated a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Price Performance

ODFL stock opened at $197.20 on Thursday. The company has a market capitalization of $42.10 billion, a P/E ratio of 34.48, a PEG ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The business has a 50 day simple moving average of $190.09 and a 200-day simple moving average of $197.70. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. As a group, equities analysts anticipate that Old Dominion Freight Line will post 5.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $41,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter valued at $45,000. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 110 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.