Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, Citigroup Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its price target increased by stock analysts at Citigroup from $201.00 to $241.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Citigroup’s price objective would indicate a potential upside of 6.83% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Barclays cut their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Bank of America cut their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, Stephens reaffirmed an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Trading Down 0.3 %

NASDAQ:ODFL opened at $225.60 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $48.17 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 6.38 and a beta of 0.99. The stock has a fifty day moving average price of $199.96 and a 200 day moving average price of $190.79. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.46 earnings per share for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the business’s 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 sale, the chairman now 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 legal filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated 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 directly owns 1,401,621 shares of the company’s stock, valued at $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. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last three months. 9.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth about $25,000. Atwood & Palmer Inc. lifted its stake in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after buying an additional 163 shares during the period. LRI Investments LLC increased its position in shares of Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth $38,000. Institutional investors and hedge funds 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.