Old Dominion Freight Line (NASDAQ:ODFL) Upgraded by Robert W. Baird to “Outperform”

Robert W. Baird upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a neutral rating to an outperform rating in a research report report published on Wednesday, MarketBeat.com reports. The firm currently has $205.00 target price on the transportation company’s stock.

Several other research firms have also commented on ODFL. Barclays dropped their target price on Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating for the company in a research note on Thursday, April 25th. Susquehanna increased their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research report on Thursday, February 8th. Bank of America reduced their target price on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a report on Thursday, April 25th. UBS Group upped their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Finally, Raymond James lifted their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research note on Monday, April 15th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $209.08.

Old Dominion Freight Line Stock Down 1.7 %

Shares of NASDAQ:ODFL opened at $181.70 on Wednesday. The company has a market capitalization of $39.55 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.94 and a beta of 1.07. The stock’s fifty day simple moving average is $214.69 and its 200-day simple moving average is $205.15. 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 announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion for 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 research analysts forecast that Old Dominion Freight Line will post 6.04 earnings per share for the current fiscal year.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the firm’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 completion of the transaction, the director now directly owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in Old Dominion Freight Line by 0.4% during the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after purchasing an additional 92 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Old Dominion Freight Line by 14.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after acquiring an additional 2,335 shares during the period. Oppenheimer & Co. Inc. bought a new position in Old Dominion Freight Line in the third quarter worth about $783,000. Pittenger & Anderson Inc. grew its holdings in shares of Old Dominion Freight Line by 617.3% during the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Old Dominion Freight Line by 35.8% during the 3rd quarter. Principal Financial Group Inc. now owns 164,248 shares of the transportation company’s stock worth $67,200,000 after purchasing an additional 43,339 shares during the period. Institutional investors and hedge funds 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.