Wells Fargo & Company Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by investment analysts at Wells Fargo & Company from $185.00 to $160.00 in a research report issued to clients and investors on Thursday, March 27th,Benzinga reports. The brokerage presently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 1.45% from the company’s previous close.

ODFL has been the subject of a number of other research reports. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Citigroup dropped their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price objective for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Barclays decreased their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line Trading Down 7.3 %

Shares of Old Dominion Freight Line stock traded down $12.38 on Thursday, hitting $157.72. 994,760 shares of the company’s stock traded hands, compared to its average volume of 1,624,099. The company has a fifty day moving average of $181.30 and a two-hundred day moving average of $193.06. Old Dominion Freight Line has a one year low of $156.91 and a one year high of $233.26. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth $45,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $51,000. 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.