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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by equities research analysts at Raymond James from $215.00 to $190.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Raymond James’ price objective would suggest a potential upside of 14.81% from the company’s previous close.

ODFL has been the topic of a number of other research reports. Morgan Stanley set a $185.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Susquehanna cut their price objective on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Finally, Bank of America decreased their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $195.75.

Old Dominion Freight Line Trading Up 11.6 %

NASDAQ:ODFL opened at $165.49 on Tuesday. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line has a 52 week low of $145.79 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $176.54 and a 200 day moving average of $191.09.

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, topping 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 anticipate 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 modified their holdings of ODFL. Merit Financial Group LLC increased its position in shares of Old Dominion Freight Line by 23.9% in the 1st quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 372 shares during the last quarter. NBC Securities Inc. lifted its position in Old Dominion Freight Line by 117,041.2% in the first quarter. NBC Securities Inc. now owns 19,914 shares of the transportation company’s stock valued at $3,294,000 after acquiring an additional 19,897 shares during the last quarter. American National Bank & Trust purchased a new stake in Old Dominion Freight Line in the first quarter valued at $30,000. Czech National Bank boosted its stake in Old Dominion Freight Line by 5.9% in the first quarter. Czech National Bank now owns 43,152 shares of the transportation company’s stock valued at $7,139,000 after acquiring an additional 2,416 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Old Dominion Freight Line by 3.2% during the first quarter. Rhumbline Advisers now owns 405,103 shares of the transportation company’s stock worth $67,024,000 after purchasing an additional 12,741 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.