Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $171.00 by Analysts at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by analysts at Susquehanna from $210.00 to $171.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 3.73% from the company’s current price.

A number of other equities research analysts have also recently commented on ODFL. Truist Financial began coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price for the company. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $200.20.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $164.85 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $35.04 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line has a 12-month low of $157.67 and a 12-month high of $233.26. The firm has a 50-day moving average price of $182.63 and a 200-day moving average price of $193.59.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODFL. 111 Capital purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $380,000. Cim LLC lifted its position in Old Dominion Freight Line by 2.6% in the fourth quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock valued at $1,245,000 after buying an additional 182 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $39,633,000. Jefferies Financial Group Inc. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $1,127,000. Finally, Challenger Wealth Management acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $233,000. Institutional investors and hedge funds 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.