Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by research analysts at Barclays from $210.00 to $205.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective would suggest a potential upside of 12.38% from the company’s previous close.

Several other analysts also recently commented on ODFL. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James lifted their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.97.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $182.42 on Thursday. The firm has a 50-day moving average of $220.06 and a 200-day moving average of $206.41. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The company has a market cap of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth 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.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, equities analysts forecast that Old Dominion Freight Line will post 6.16 earnings per share for the current year.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ODFL. Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth $495,387,000. WCM Investment Management LLC raised its holdings in Old Dominion Freight Line by 95.9% during the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after buying an additional 972,531 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Old Dominion Freight Line by 39,016.7% during the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after buying an additional 703,471 shares during the last quarter. Finally, Canal Capital Management LLC raised its holdings in Old Dominion Freight Line by 100.8% during the first quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock worth $124,019,000 after buying an additional 283,884 shares during 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.