Barclays Issues Pessimistic Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by analysts at Barclays from $195.00 to $185.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target suggests a potential upside of 11.02% from the company’s current price.

Other analysts have also recently issued reports about the stock. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley raised their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price target for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, Jefferies Financial Group boosted 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. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $199.70.

Old Dominion Freight Line Trading Down 0.3 %

Shares of NASDAQ ODFL traded down $0.46 during trading hours on Wednesday, reaching $166.64. The stock had a trading volume of 54,929 shares, compared to its average volume of 1,620,415. Old Dominion Freight Line has a 52-week low of $157.67 and a 52-week high of $233.26. The firm has a market cap of $35.42 billion, a price-to-earnings ratio of 30.48, a P/E/G ratio of 2.89 and a beta of 1.10. The business’s fifty day moving average price is $181.68 and its two-hundred day moving average price is $193.23. 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 issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds have recently bought and sold shares of the business. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $51,000. Finally, CoreCap Advisors LLC increased its stake in Old Dominion Freight Line by 98.2% during the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds 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.