Old Dominion Freight Line (NASDAQ:ODFL) Given Overweight Rating at Stephens

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “overweight” rating reissued by analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $240.00 target price on the transportation company’s stock. Stephens’ price objective points to a potential upside of 21.70% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Barclays cut their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley increased their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $197.20 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $42.10 billion, a PE ratio of 34.48, a P/E/G ratio of 4.95 and a beta of 1.05. The firm has a fifty day simple moving average of $190.09 and a two-hundred day simple moving average of $197.70. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26.

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, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Research analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after acquiring an additional 275,236 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after acquiring an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after buying an additional 46,570 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.