Raymond James Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $233.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by analysts at Raymond James from $207.50 to $233.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the transportation company’s stock. Raymond James’ price target points to a potential upside of 5.68% from the company’s previous close.

Several other equities analysts have also weighed in on ODFL. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised their price target on shares of 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. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Barclays lowered their price target on shares of Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Finally, Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $214.19.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $220.48 on Monday. The firm has a market capitalization of $47.99 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 3.17 and a beta of 1.02. The firm’s fifty day moving average price is $221.78 and its two-hundred day moving average price is $206.41. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. As a group, research analysts anticipate that Old Dominion Freight Line will post 6.35 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently made changes to their positions in ODFL. Fortitude Family Office LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Headinvest LLC bought a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $34,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.