Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $216.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by investment analysts at The Goldman Sachs Group from $228.00 to $216.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 10.88% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Citigroup assumed coverage on Old Dominion Freight Line in a research report on Wednesday. They set a “neutral” rating and a $206.00 price target on the stock. Evercore ISI cut their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Susquehanna lifted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Finally, Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.83.

Old Dominion Freight Line Stock Up 1.4 %

Shares of NASDAQ ODFL traded up $2.64 during midday trading on Wednesday, hitting $194.80. 334,732 shares of the company’s stock were exchanged, compared to its average volume of 1,551,405. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a market cap of $42.33 billion, a PE ratio of 34.30, a P/E/G ratio of 4.03 and a beta of 0.99. The firm’s fifty day simple moving average is $195.25 and its 200-day simple moving average is $193.69.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. Research analysts predict that Old Dominion Freight Line will post 5.62 EPS for the current fiscal year.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction 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 approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction 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 transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of ODFL. Wasatch Advisors LP raised its holdings in Old Dominion Freight Line by 14.1% during the fourth quarter. Wasatch Advisors LP now owns 2,937 shares of the transportation company’s stock worth $1,190,000 after purchasing an additional 363 shares during the last quarter. Power Corp of Canada acquired a new position in Old Dominion Freight Line during the fourth quarter worth $268,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Old Dominion Freight Line by 9.4% in the fourth quarter. Osterweis Capital Management Inc. now owns 64,190 shares of the transportation company’s stock worth $26,018,000 after acquiring an additional 5,490 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Old Dominion Freight Line by 39.1% in the fourth quarter. V Square Quantitative Management LLC now owns 1,532 shares of the transportation company’s stock worth $621,000 after acquiring an additional 431 shares during the last quarter. 77.82% of the stock is 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.