Wells Fargo & Company Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by analysts at Wells Fargo & Company from $185.00 to $160.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 5.14% from the company’s current price.

ODFL has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Citigroup cut their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Susquehanna restated a “neutral” rating and set a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $201.40.

Old Dominion Freight Line Stock Up 0.6 %

ODFL stock opened at $168.67 on Thursday. The firm has a market cap of $35.85 billion, a PE ratio of 30.78, a PEG ratio of 2.89 and a beta of 1.10. The company has a fifty day simple moving average of $183.51 and a 200 day simple moving average of $193.88. Old Dominion Freight Line has a 1 year low of $157.67 and a 1 year high of $233.26. 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 issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently bought and sold shares of the company. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter worth approximately $45,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $41,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 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.