Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $200.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by equities research analysts at Robert W. Baird from $204.00 to $200.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s target price suggests a potential upside of 1.12% from the stock’s previous close.

Several other research firms have also issued reports on ODFL. Citigroup assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price target on the stock. The Goldman Sachs Group decreased their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Susquehanna boosted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Wednesday, September 18th. Raymond James raised their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $209.00 to $197.00 in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $197.79 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $195.53 and a 200 day moving average price of $190.66. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 4.20 and a beta of 0.99. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. Research analysts predict that Old Dominion Freight Line will post 5.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman David S. Congdon sold 10,000 shares of the 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 sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, 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 own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. Capital Research Global Investors increased its position in Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares during the period. Capital World Investors raised its holdings in Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after purchasing an additional 815,817 shares during the period. 77.82% of the stock is currently 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.