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

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by equities research analysts at Barclays from $185.00 to $170.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target points to a potential upside of 15.85% from the stock’s previous close.

Several other brokerages have also recently weighed in on ODFL. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a report on Thursday. UBS Group dropped their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $182.95.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $146.74 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $144.90 and a twelve month high of $233.26. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. The stock’s 50 day moving average is $165.37 and its 200-day moving average is $187.65.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Sell-side analysts forecast 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. Wilmington Savings Fund Society FSB bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $1,718,000. Synovus Financial Corp grew its holdings in Old Dominion Freight Line by 2.4% during the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company’s stock valued at $866,000 after purchasing an additional 101 shares during the period. Franklin Resources Inc. increased its position in Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after buying an additional 437,700 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $16,691,000. Finally, Retirement Systems of Alabama lifted its position in shares of Old Dominion Freight Line by 5.2% during the 3rd quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company’s stock valued at $8,213,000 after buying an additional 2,044 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.