UBS Group Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by investment analysts at UBS Group from $155.00 to $164.00 in a report issued on Friday, Marketbeat.com reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s price objective suggests a potential upside of 16.04% from the company’s previous close.

A number of other analysts have also weighed in on ODFL. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Thursday, July 31st. Stephens reduced their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, Benchmark restated a “hold” rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $166.52.

Old Dominion Freight Line Stock Up 0.5%

Shares of Old Dominion Freight Line stock opened at $141.33 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a 50-day moving average of $147.58 and a 200 day moving average of $156.61. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.30 and a beta of 1.19. Old Dominion Freight Line has a 1 year low of $133.69 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. As a group, sell-side analysts anticipate 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

Several large investors have recently added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Old Dominion Freight Line by 23.9% during the first quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company’s stock valued at $319,000 after buying an additional 372 shares during the last quarter. Impact Capital Partners LLC raised its position in shares of Old Dominion Freight Line by 16.1% during the first quarter. Impact Capital Partners LLC now owns 2,566 shares of the transportation company’s stock valued at $425,000 after buying an additional 355 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Old Dominion Freight Line by 2.0% during the first quarter. Gateway Investment Advisers LLC now owns 82,983 shares of the transportation company’s stock valued at $13,730,000 after buying an additional 1,595 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of Old Dominion Freight Line by 2.5% during the first quarter. Wedmont Private Capital now owns 3,722 shares of the transportation company’s stock valued at $567,000 after buying an additional 90 shares during the last quarter. 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.