Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $219.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $231.00 to $219.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 20.05% from the stock’s current price.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group boosted their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Evercore ISI cut their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday. Barclays cut their price objective on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Susquehanna upped their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. Finally, Bank of America cut their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $210.97.

Old Dominion Freight Line Trading Down 7.2 %

NASDAQ:ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The firm has a market capitalization of $39.71 billion, a P/E ratio of 32.12, a P/E/G ratio of 3.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The business has a 50 day simple moving average of $220.06 and a 200 day simple moving average of $206.41.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts predict 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 company’s stock in a transaction on 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 transaction, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. grew its stake in Old Dominion Freight Line by 100.0% in the first 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 in the last quarter. Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Finally, Headinvest LLC purchased a new position in Old Dominion Freight Line in the third quarter valued at about $30,000. Hedge funds and other 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.