UBS Group Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price upped by investment analysts at UBS Group from $202.00 to $205.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price indicates a potential upside of 12.38% from the stock’s previous close.

ODFL has been the subject of several other research reports. The Goldman Sachs Group upped their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Raymond James lifted their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Bank of America reiterated a “neutral” rating and set a $223.00 price target (up previously from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Finally, Susquehanna upped their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $210.97.

Old Dominion Freight Line Stock Performance

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

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Sell-side analysts predict that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position 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 in the last quarter. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $495,387,000. WCM Investment Management LLC increased its position in Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after purchasing an additional 972,531 shares in the last quarter. International Assets Investment Management LLC raised its stake in Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after purchasing an additional 703,471 shares during the last quarter. Finally, Canal Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 100.8% during the 1st quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock worth $124,019,000 after purchasing an additional 283,884 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.