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

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

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Susquehanna reissued a “neutral” rating and set a $170.00 price objective on shares of Old Dominion Freight Line in a report on Monday, January 5th. Robert W. Baird set a $170.00 target price on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Stephens reiterated an “overweight” rating and set a $190.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday, January 6th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.71.

Old Dominion Freight Line Stock Performance

ODFL traded up $4.69 on Monday, hitting $178.21. The company’s stock had a trading volume of 2,101,058 shares, compared to its average volume of 1,878,197. The company’s 50 day simple moving average is $150.60 and its 200-day simple moving average is $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 12 month low of $126.01 and a 12 month high of $209.61. The firm has a market cap of $37.26 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 8.43 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Gravity Companies Inc. bought a new position in Old Dominion Freight Line in the second quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $28,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $37,000. Institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.