Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at BMO Capital Markets

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by research analysts at BMO Capital Markets from $210.00 to $205.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.65% from the company’s current price.

Several other research firms have also issued reports on ODFL. Stephens reaffirmed an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Bank of America cut their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley cut their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $197.79 on Thursday. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm’s 50-day simple moving average is $195.53 and its two-hundred day simple moving average is $190.66. The stock has a market cap of $42.98 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 EPS. Analysts anticipate that Old Dominion Freight Line will post 5.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently made changes to their positions in the business. Financial Advocates Investment Management raised its stake in Old Dominion Freight Line by 5.8% during the 3rd quarter. Financial Advocates Investment Management now owns 2,396 shares of the transportation company’s stock valued at $476,000 after purchasing an additional 132 shares during the period. First Trust Direct Indexing L.P. grew its holdings in Old Dominion Freight Line by 16.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,706 shares of the transportation company’s stock valued at $1,133,000 after buying an additional 806 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Old Dominion Freight Line by 108.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,718 shares of the transportation company’s stock valued at $540,000 after buying an additional 1,412 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $1,206,000. Finally, abrdn plc boosted its position in shares of Old Dominion Freight Line by 15.8% during the third quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock worth $12,104,000 after acquiring an additional 8,329 shares during the last quarter. 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.