Raymond James Financial Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $180.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by equities researchers at Raymond James Financial from $155.00 to $180.00 in a report issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the transportation company’s stock. Raymond James Financial’s price objective would suggest a potential upside of 1.00% from the stock’s previous close.

A number of other brokerages also recently weighed in on ODFL. Rothschild & Co Redburn assumed coverage on Old Dominion Freight Line in a research note on Wednesday, November 26th. They issued a “sell” rating and a $114.00 price objective on the stock. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. Zacks Research downgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Finally, Robert W. Baird set a $170.00 target price on shares of Old Dominion Freight Line in a report on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $162.71.

Old Dominion Freight Line Stock Up 2.7%

Shares of ODFL traded up $4.69 during mid-day trading on Monday, hitting $178.21. 2,101,058 shares of the company’s stock were exchanged, compared to its average volume of 1,878,266. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 8.43 and a beta of 1.27. The firm has a fifty day moving average of $150.60 and a two-hundred day moving average of $149.83. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast 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

Several large investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. lifted its position in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the period. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line during the second quarter worth $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the third quarter worth $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.