Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $200.00

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

Other equities research analysts also recently issued reports about the stock. Raymond James upped their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company cut their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. BMO Capital Markets lowered shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $214.00 to $210.00 in a research report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Finally, Evercore ISI reduced their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Trading Up 3.1 %

Old Dominion Freight Line stock opened at $197.79 on Thursday. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. 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 stock has a market capitalization of $42.98 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The firm has a 50 day simple moving average of $195.53 and a 200-day simple moving average of $190.66.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company posted $1.54 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.56 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, 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. 9.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently bought and sold shares of the business. Financial Advocates Investment Management boosted its stake in shares of Old Dominion Freight Line by 5.8% during the 3rd quarter. Financial Advocates Investment Management now owns 2,396 shares of the transportation company’s stock worth $476,000 after acquiring an additional 132 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Old Dominion Freight Line by 16.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,706 shares of the transportation company’s stock worth $1,133,000 after purchasing an additional 806 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Old Dominion Freight Line by 108.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,718 shares of the transportation company’s stock worth $540,000 after purchasing an additional 1,412 shares during the period. Traynor Capital Management Inc. acquired a new position in Old Dominion Freight Line during the third quarter valued at approximately $1,206,000. Finally, abrdn plc raised its position in shares of Old Dominion Freight Line by 15.8% in the third quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock valued at $12,104,000 after purchasing an additional 8,329 shares during the period. 77.82% of the stock is 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.