Old Dominion Freight Line (NASDAQ:ODFL) Given New $193.00 Price Target at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by analysts at JPMorgan Chase & Co. from $176.00 to $193.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 6.98% from the company’s current price.

ODFL has been the subject of a number of other reports. Susquehanna cut their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Morgan Stanley decreased their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Raymond James decreased their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. BMO Capital Markets started coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $200.29.

Old Dominion Freight Line Stock Up 6.6 %

Shares of ODFL traded up $12.87 during trading hours on Thursday, hitting $207.49. The company had a trading volume of 235,646 shares, compared to its average volume of 1,601,535. The firm has a fifty day moving average price of $179.40 and a 200-day moving average price of $198.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The stock has a market capitalization of $45.09 billion, a price-to-earnings ratio of 34.75, a P/E/G ratio of 2.55 and a beta of 1.00. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. North Growth Management Ltd. raised its position in Old Dominion Freight Line by 13.3% in the second quarter. North Growth Management Ltd. now owns 34,000 shares of the transportation company’s stock valued at $6,064,000 after purchasing an additional 4,000 shares during the period. Atlantic Union Bankshares Corp raised its holdings in shares of Old Dominion Freight Line by 31.4% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 15,389 shares of the transportation company’s stock valued at $2,718,000 after buying an additional 3,675 shares during the period. LRI Investments LLC raised its holdings in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the period. TrueWealth Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $254,000. Finally, Herold Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 18.1% in the 2nd quarter. Herold Advisors Inc. now owns 5,033 shares of the transportation company’s stock valued at $889,000 after buying an additional 773 shares during the period. Hedge funds and other institutional investors 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.