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 lifted by stock analysts at JPMorgan Chase & Co. from $176.00 to $193.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently 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.

Several other brokerages also recently commented on ODFL. UBS Group upped their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Bank of America boosted their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price on the stock. Barclays reduced their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Finally, Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $200.29.

Old Dominion Freight Line Price Performance

ODFL stock traded up $12.87 on Thursday, hitting $207.49. 235,646 shares of the company’s stock traded hands, compared to its average volume of 1,601,535. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80. The stock has a market cap 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. The stock has a fifty day moving average of $179.40 and a 200-day moving average of $198.68. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ODFL. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Atwood & Palmer Inc. raised its stake in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the period. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line during the 4th quarter worth about $29,000. Finally, Fortitude Family Office LLC increased its holdings in Old Dominion Freight Line by 103.0% during the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.