Old Dominion Freight Line (NASDAQ:ODFL) PT Raised to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by stock analysts at Susquehanna from $210.00 to $225.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 10.01% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Raymond James raised their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Evercore ISI restated an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Finally, Barclays reduced their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $201.83.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $204.52 on Wednesday. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $44.44 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The business’s fifty day moving average price is $195.84 and its 200 day moving average price is $195.95.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line will post 5.64 earnings per share for the current fiscal year.

Insider Activity

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. grew its holdings in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line during the fourth quarter worth $29,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.