Old Dominion Freight Line (NASDAQ:ODFL) Given New $160.00 Price Target at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price target dropped by analysts at Wells Fargo & Company from $185.00 to $160.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the transportation company's stock. Wells Fargo & Company's target price points to a potential downside of 3.02% from the company's current price.

Several other research analysts also recently commented on the stock. Citigroup lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Barclays dropped their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Stephens reiterated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Evercore ISI boosted their target price on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $200.20.

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Old Dominion Freight Line Price Performance

Shares of ODFL traded up $0.13 during trading hours on Thursday, hitting $164.98. 483,461 shares of the company were exchanged, compared to its average volume of 1,621,585. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The company has a market cap of $35.07 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.89 and a beta of 1.10. The firm's fifty day moving average is $182.63 and its 200 day moving average is $193.59.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities 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 institutional investors have recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $35,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $45,000. Itau Unibanco Holding S.A. raised its holdings in shares of Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after purchasing an additional 215 shares during the period. 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.