Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $206.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by research analysts at TD Cowen from $209.00 to $206.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The firm presently has a “hold” rating on the transportation company’s stock. TD Cowen’s price objective indicates a potential upside of 12.93% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America lowered their target price on Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James increased their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Evercore ISI reduced their price target on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Barclays reduced their price target on Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $210.97.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $182.42 on Friday. The business has a 50-day moving average of $220.06 and a 200 day moving average of $206.37. Old Dominion Freight Line has a 12 month low of $147.90 and a 12 month high of $227.80. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10.

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

Insider Buying and Selling

In related news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ODFL. Bank of New York Mellon Corp grew its stake in Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line during the 4th quarter worth approximately $495,387,000. WCM Investment Management LLC grew its stake in Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after buying an additional 972,531 shares during the last quarter. International Assets Investment Management LLC grew its stake in Old Dominion Freight Line by 39,016.7% during the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after buying an additional 703,471 shares during the last quarter. Finally, Canal Capital Management LLC grew its stake in Old Dominion Freight Line by 100.8% during the 1st quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock worth $124,019,000 after buying an additional 283,884 shares during the last quarter. Hedge funds and other institutional investors 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.