The Goldman Sachs Group Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $182.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective boosted by investment analysts at The Goldman Sachs Group from $181.00 to $182.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 2.13% from the stock’s current price.

ODFL has been the subject of a number of other reports. TD Cowen lifted their price target on Old Dominion Freight Line from $154.00 to $167.00 and gave the company a “hold” rating in a report on Friday, January 9th. Robert W. Baird set a $170.00 price objective on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Susquehanna reissued a “neutral” rating and set a $170.00 price target on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Finally, Barclays set a $165.00 price target on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $162.71.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $178.21 on Wednesday. The stock has a market capitalization of $37.26 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 8.63 and a beta of 1.27. The firm’s 50-day moving average price is $151.41 and its two-hundred day moving average price is $150.03. 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 has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $1.43 EPS. Old Dominion Freight Line’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts predict 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

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $371,961,000. Boston Partners bought a new position in shares of Old Dominion Freight Line during the third quarter worth $292,599,000. Two Sigma Investments LP grew its holdings in shares of Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after buying an additional 1,362,697 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after buying an additional 776,004 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.