JPMorgan Lowers Price Target for Old Dominion Freight Line to $232

JPMorgan Chase & Co. has lowered its price target for Old Dominion Freight Line (NASDAQ:ODFL) from $250.00 to $232.00, maintaining a "neutral" rating on the stock. This adjustment, reported on Monday, suggests a potential upside of 29.27% from the stock's previous close. The transportation company's stock has faced mixed analyst sentiment recently, with several firms revising their outlooks.

Other brokerages have also adjusted their price targets for ODFL. Susquehanna decreased its target from $232.00 to $202.00, while Raymond James Financial raised its target to $241.00, reaffirming an "outperform" rating. Barclays increased its target to $220.00 with an "equal weight" rating, and Citigroup upgraded the stock to "buy" but lowered its target to $223.00. Bank of America reduced its target to $205.00.

Currently, ten analysts rate ODFL as "buy," fourteen as "hold," and two as "sell," resulting in a consensus "hold" rating and a target price of $225.57. The stock traded down $1.01 on Monday, reaching $179.47, with a market capitalization of $37.21 billion and a PE ratio of 34.50. The company reported strong quarterly earnings, beating estimates with $1.68 EPS and $1.55 billion in revenue.

Institutional investors have been active in modifying their holdings. BlackRock Inc. acquired a new stake valued at $3.42 billion, while Boston Partners increased its holdings by 98.4%. Legal & General Group Plc and Franklin Resources Inc. also made significant investments. Company insiders own 8.20% of the stock, with recent sales by SVP Cecil Overbey, Jr., who sold 19,952 shares at $198.39 each.