Truist Financial Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $175.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by analysts at Truist Financial from $220.00 to $175.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the transportation company’s stock. Truist Financial’s price objective points to a potential upside of 19.26% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Barclays decreased their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd. Bank of America dropped their target price on shares of 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. UBS Group reduced their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. Finally, StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Two 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.95.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $146.74 on Thursday. The firm has a 50-day moving average price of $165.37 and a two-hundred day moving average price of $187.65. Old Dominion Freight Line has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a market capitalization of $31.19 billion, a P/E ratio of 26.78, a P/E/G ratio of 2.89 and a beta of 1.25. 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 (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently modified their holdings of the business. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. increased its stake in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares during the period. Evergreen Private Wealth LLC raised its position in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after acquiring an additional 59 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 3.2% in the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after acquiring an additional 59 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in Old Dominion Freight Line by 5.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. 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.