Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $167.00 by Analysts at Deutsche Bank Aktiengesellschaft

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $180.00 to $167.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 5.24% from the company’s current price.

Several other research firms have also recently commented on ODFL. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Barclays dropped their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Rothschild Redb raised Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group reduced their price target on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, October 9th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $154.48.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $158.69 on Thursday. The company has a market cap of $33.18 billion, a P/E ratio of 31.88, a P/E/G ratio of 3.88 and a beta of 1.27. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $209.61. The company’s 50-day moving average price is $139.08 and its 200-day moving average price is $149.64. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company earned $1.43 EPS. Old Dominion Freight Line’s revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ODFL. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. raised its position in 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 during the period. Westside Investment Management Inc. lifted its stake in Old Dominion Freight Line by 100.0% during 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 in the last quarter. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the second quarter worth $28,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $37,000. 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.