Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $206.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by TD Cowen from $209.00 to $206.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 12.93% from the stock’s previous close.

ODFL has been the subject of a number of other reports. Raymond James raised their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group increased their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research note on Thursday. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Evercore ISI reduced their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

Shares of ODFL opened at $182.42 on Friday. The company has a market cap of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 2.85 and a beta of 1.02. The business has a fifty day moving average of $220.06 and a 200 day moving average of $206.37. Old Dominion Freight Line has a 52-week low of $147.90 and a 52-week high of $227.80. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, sell-side analysts expect that Old Dominion Freight Line will post 6.16 EPS for the current year.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in the stock. Sib LLC boosted its position in Old Dominion Freight Line by 100.0% during the first quarter. Sib LLC now owns 165,172 shares of the transportation company’s stock valued at $36,224,000 after purchasing an additional 82,586 shares in the last quarter. Conning Inc. bought a new stake in Old Dominion Freight Line during the first quarter valued at about $241,000. K.J. Harrison & Partners Inc boosted its holdings in Old Dominion Freight Line by 103.2% in the first quarter. K.J. Harrison & Partners Inc now owns 3,658 shares of the transportation company’s stock worth $802,000 after acquiring an additional 1,858 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Old Dominion Freight Line by 100.4% in the first quarter. Pinnacle Associates Ltd. now owns 3,190 shares of the transportation company’s stock worth $700,000 after acquiring an additional 1,598 shares in the last quarter. Finally, Trueblood Wealth Management LLC acquired a new stake in Old Dominion Freight Line in the first quarter worth about $210,000. Institutional investors 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.