Citigroup Issues Pessimistic Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by equities research analysts at Citigroup from $205.00 to $186.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 6.29% from the company’s current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Wells Fargo & Company reduced 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 lowered their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Jefferies Financial Group upped their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $200.67.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $2.71 during mid-day trading on Tuesday, reaching $174.99. The company’s stock had a trading volume of 3,026,045 shares, compared to its average volume of 1,531,877. The stock has a market capitalization of $37.19 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The stock has a 50-day moving average of $187.41 and a two-hundred day moving average of $197.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, equities research analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $35,000. Itau Unibanco Holding S.A. increased its position in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the 3rd quarter valued at $45,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $51,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.