Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $173.00 at Citigroup

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by equities research analysts at Citigroup from $174.00 to $173.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Citigroup’s target price points to a potential upside of 16.72% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. UBS Group decreased their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Barclays set a $155.00 price objective on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. Finally, Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $167.14.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $148.22 on Wednesday. The firm’s fifty day moving average price is $156.27 and its 200-day moving average price is $160.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $31.15 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 3.51 and a beta of 1.23. Old Dominion Freight Line has a fifty-two week low of $140.71 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. On average, equities research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ODFL. Osaic Holdings Inc. boosted its holdings in Old Dominion Freight Line by 1.3% in the second quarter. Osaic Holdings Inc. now owns 33,805 shares of the transportation company’s stock worth $5,488,000 after purchasing an additional 449 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Old Dominion Freight Line by 2.1% in the second quarter. Orion Porfolio Solutions LLC now owns 21,777 shares of the transportation company’s stock worth $3,534,000 after purchasing an additional 447 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Old Dominion Freight Line in the second quarter worth approximately $1,608,000. Cim Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 99.6% in the second quarter. Cim Investment Management Inc. now owns 3,771 shares of the transportation company’s stock worth $639,000 after purchasing an additional 1,882 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Old Dominion Freight Line in the second quarter worth approximately $283,000. 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.