Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $160.00 at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by stock analysts at Wells Fargo & Company from $185.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 2.94% from the company’s previous close.

Several other equities research analysts have also commented on ODFL. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Morgan Stanley upped their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Barclays lowered their price target on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Bank of America cut their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $201.40.

Old Dominion Freight Line Trading Down 3.2 %

Shares of Old Dominion Freight Line stock opened at $164.85 on Thursday. The company has a 50-day moving average of $182.63 and a two-hundred day moving average of $193.54. The stock has a market cap of $35.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. 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 has a 12-month low of $157.67 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 28.02% and a net margin of 20.40%. On average, research analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. Itau Unibanco Holding S.A. increased its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $41,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.