Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by equities researchers at Buckingham Research from $162.00 to $154.00 in a report issued on Friday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s price target points to a potential upside of 12.76% from the stock’s previous close.

Several other brokerages have also recently issued reports on ODFL. BidaskClub upgraded Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. ValuEngine raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Bank of America raised their price objective on Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a research note on Thursday, August 30th. Morgan Stanley raised their price objective on Old Dominion Freight Line from $158.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, KeyCorp raised their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $146.92.

Shares of ODFL stock opened at $136.57 on Friday. Old Dominion Freight Line has a 1 year low of $106.20 and a 1 year high of $170.22. The firm has a market cap of $13.22 billion, a PE ratio of 31.32, a PEG ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.17. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, research analysts expect that Old Dominion Freight Line will post 6.94 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in shares of Old Dominion Freight Line by 50.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,000 shares of the transportation company’s stock worth $1,191,000 after acquiring an additional 2,680 shares in the last quarter. Scout Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 3.8% during the 2nd quarter. Scout Investments Inc. now owns 107,486 shares of the transportation company’s stock worth $16,011,000 after acquiring an additional 3,938 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Old Dominion Freight Line by 2.7% during the 2nd quarter. Raymond James & Associates now owns 91,025 shares of the transportation company’s stock worth $13,559,000 after acquiring an additional 2,374 shares in the last quarter. Carillon Tower Advisers Inc. boosted its stake in shares of Old Dominion Freight Line by 35.0% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 328,396 shares of the transportation company’s stock worth $48,917,000 after acquiring an additional 85,156 shares in the last quarter. Finally, Torch Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $1,504,000. 72.45% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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