Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by equities research analysts at Morgan Stanley from $165.00 to $170.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 13.79% from the company’s current price.

ODFL has been the topic of several other reports. Jefferies Financial Group lifted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Robert W. Baird dropped their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Stock Up 0.7 %

Shares of NASDAQ:ODFL opened at $197.20 on Thursday. The stock’s 50-day moving average price is $190.09 and its two-hundred day moving average price is $197.70. 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 has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a market cap of $42.10 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 4.95 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. On average, research analysts forecast that Old Dominion Freight Line will post 5.42 EPS for the current year.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its position in shares of Old Dominion Freight Line by 9.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,530 shares of the transportation company’s stock worth $1,152,000 after purchasing an additional 551 shares during the period. AGF Management Ltd. acquired a new position in Old Dominion Freight Line during the fourth quarter valued at $403,000. Markel Group Inc. grew its stake in Old Dominion Freight Line by 1.9% in the fourth quarter. Markel Group Inc. now owns 300,700 shares of the transportation company’s stock valued at $53,043,000 after purchasing an additional 5,700 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $376,000. Finally, Dearborn Partners LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $372,000. 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.