Citigroup Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $173.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by investment analysts at Citigroup from $174.00 to $173.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Citigroup’s price objective suggests a potential upside of 15.80% from the company’s previous close.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Benchmark reissued a “hold” rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Baird R W raised Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Finally, Raymond James Financial cut their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $167.14.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $149.40 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $31.40 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.40 and a beta of 1.23. The business’s fifty day moving average is $155.37 and its two-hundred day moving average is $160.01. Old Dominion Freight Line has a 52 week low of $140.71 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 EPS. Equities research analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its stake in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the period. Financial Gravity Companies Inc. bought a new stake in shares of Old Dominion Freight Line in the second quarter worth about $26,000. Rossby Financial LCC bought a new stake in shares of Old Dominion Freight Line in the second quarter worth about $28,000. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line in the first quarter worth about $30,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Old Dominion Freight Line in the first quarter worth about $39,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.