Old Dominion Freight Line (NASDAQ:ODFL) Price Target Increased to $203.00 by Analysts at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price target boosted by analysts at Bank of America from $192.00 to $203.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target suggests a potential upside of 4.72% from the company’s current price.

A number of other research firms have also recently commented on ODFL. Raymond James lowered their target price on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Evercore ISI restated an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. TD Cowen dropped their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $201.13.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $193.85 on Monday. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $227.80. The company has a market cap of $42.12 billion, a P/E ratio of 34.13, a P/E/G ratio of 2.57 and a beta of 1.00. The firm has a 50-day moving average of $179.19 and a 200-day moving average of $198.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Equities research analysts forecast that Old Dominion Freight Line will post 5.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently made changes to their positions in ODFL. SG Americas Securities LLC increased its holdings in shares of Old Dominion Freight Line by 13.2% in the fourth quarter. SG Americas Securities LLC now owns 8,520 shares of the transportation company’s stock worth $3,453,000 after buying an additional 991 shares during the period. Mutual Advisors LLC increased its stake in Old Dominion Freight Line by 60.8% in the 4th quarter. Mutual Advisors LLC now owns 1,751 shares of the transportation company’s stock worth $710,000 after purchasing an additional 662 shares during the period. HB Wealth Management LLC lifted its position in Old Dominion Freight Line by 20.8% in the fourth quarter. HB Wealth Management LLC now owns 1,734 shares of the transportation company’s stock valued at $703,000 after purchasing an additional 298 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $353,000. Finally, Raymond James & Associates grew its holdings in shares of Old Dominion Freight Line by 14.7% in the fourth quarter. Raymond James & Associates now owns 26,184 shares of the transportation company’s stock worth $10,613,000 after purchasing an additional 3,356 shares during the last quarter. 77.82% of the stock is currently owned by 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.