JPMorgan Chase & Co. Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $142.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by analysts at JPMorgan Chase & Co. from $144.00 to $142.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 7.97% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Wolfe Research boosted their target price on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Raymond James Financial reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $157.48.

Old Dominion Freight Line Stock Down 0.5%

Shares of ODFL traded down $0.85 during trading hours on Monday, hitting $154.30. The company had a trading volume of 734,027 shares, compared to its average volume of 1,937,789. The firm has a fifty day moving average price of $138.34 and a 200-day moving average price of $149.76. The stock has a market capitalization of $32.26 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 4.05 and a beta of 1.27. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $209.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company earned $1.43 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of 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 valued at $27,000 after acquiring an additional 98 shares in the last quarter. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line in the second quarter valued at about $28,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.