Susquehanna Reiterates Neutral Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “neutral” rating reiterated by research analysts at Susquehanna in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $195.00 target price on the transportation company’s stock, down from their prior target price of $218.00. Susquehanna’s price objective would indicate a potential upside of 8.59% from the company’s previous close.

Several other research analysts have also recently commented on the company. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the company from $209.00 to $197.00 in a research report on Monday, October 21st. TD Cowen dropped their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $204.12.

Old Dominion Freight Line Trading Down 0.6 %

NASDAQ:ODFL opened at $179.58 on Tuesday. The company has a market cap of $38.34 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The business has a 50 day moving average price of $203.81 and a two-hundred day moving average price of $197.37. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. As a group, analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Insider Activity

In other news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its position in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares during the period. International Assets Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after purchasing an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in Old Dominion Freight Line in the second quarter valued at $92,697,000. Renaissance Technologies LLC bought a new position in Old Dominion Freight Line during the 2nd quarter worth $82,398,000. Finally, Franklin Resources Inc. lifted its holdings in Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after buying an additional 437,700 shares during the period. Institutional investors 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.