Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) had its target price boosted by research analysts at Jefferies Financial Group from $185.00 to $190.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 7.70% from the company’s current price.
A number of other equities research analysts have also commented on the company. BMO Capital Markets decreased their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Citigroup increased their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Susquehanna reiterated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $203.33.
Check Out Our Latest Stock Report on ODFL
Old Dominion Freight Line Stock Down 1.8 %
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its quarterly 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 firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated 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 transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.
Institutional Trading of Old Dominion Freight Line
Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 19,764.0% in the 3rd 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 period. Bristol Gate Capital Partners Inc. bought a new position in Old Dominion Freight Line during the 2nd quarter worth about $92,697,000. Renaissance Technologies LLC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $82,398,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.
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.
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