Susquehanna Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by equities researchers at Susquehanna from $171.00 to $168.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would indicate a potential upside of 14.49% from the company’s current price.

ODFL has been the subject of a number of other research reports. Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an “underweight” rating in a research report on Thursday. Stephens reissued an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and dropped their price target for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $200.00 to $188.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.95.

Old Dominion Freight Line Trading Down 7.7 %

Shares of ODFL stock opened at $146.74 on Thursday. The stock has a fifty day simple moving average of $165.37 and a two-hundred day simple moving average of $187.65. Old Dominion Freight Line has a 52-week low of $144.90 and a 52-week high of $233.26. The firm has a market capitalization of $31.19 billion, a PE ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. On average, analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Avanza Fonder AB purchased a new position in Old Dominion Freight Line in the 4th quarter worth about $3,741,000. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line in the 4th quarter worth about $128,221,000. Blueshift Asset Management LLC bought a new position in Old Dominion Freight Line in the 4th quarter worth about $630,000. Board of the Pension Protection Fund purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $600,000. Finally, Reliant Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares in the last quarter. Hedge funds and other 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.