Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by research analysts at Evercore ISI from $241.00 to $225.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s price target indicates a potential upside of 23.34% from the company’s current price.

A number of other analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Raymond James boosted their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $210.97.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $182.42 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. The company has a market capitalization of $39.71 billion, a PE ratio of 32.12, a PEG ratio of 3.07 and a beta of 1.02. The company’s 50 day moving average price is $220.06 and its 200 day moving average price is $206.41. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Research analysts expect that Old Dominion Freight Line will post 6.16 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $27,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $27,000. Farmers & Merchants Investments Inc. lifted its position in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $29,000. Finally, Headinvest LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.