Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $188.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by analysts at Evercore ISI from $199.00 to $188.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s target price suggests a potential downside of 2.13% from the company’s previous close.

Several other analysts also recently issued reports on ODFL. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Finally, Susquehanna increased their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $201.39.

Old Dominion Freight Line Trading Down 0.7 %

NASDAQ ODFL traded down $1.40 during mid-day trading on Thursday, hitting $192.10. The company’s stock had a trading volume of 148,827 shares, compared to its average volume of 1,557,988. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80. The stock’s fifty day simple moving average is $196.29 and its two-hundred day simple moving average is $194.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $41.74 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $1.33 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line will post 5.62 EPS for the current year.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on 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 in the company, valued at $282,146,307.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value 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 disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $29,000. Neo Ivy Capital Management bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $40,000. Farmers & Merchants Investments Inc. raised its stake in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.