UBS Group Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by equities researchers at UBS Group from $196.00 to $158.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s price target would indicate a potential downside of 4.53% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their target price for the stock from $193.00 to $200.00 in a research report on Monday, February 24th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $186.00 to $183.00 in a research note on Tuesday. Finally, Raymond James reduced their price objective on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.75.

Old Dominion Freight Line Trading Up 11.6 %

Shares of ODFL opened at $165.49 on Tuesday. The stock has a 50 day simple moving average of $176.54 and a 200-day simple moving average of $191.09. Old Dominion Freight Line has a 1 year low of $145.79 and a 1 year high of $233.26. The stock has a market cap of $35.17 billion, a PE ratio of 30.20, a PEG ratio of 2.89 and a beta of 1.25. 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 (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping 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, sell-side analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock valued at $255,390,000 after buying an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock valued at $210,856,000 after buying an additional 573,586 shares during the last quarter. 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.