Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $231.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by research analysts at JPMorgan Chase & Co. from $233.00 to $231.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.42% from the company’s current price.

A number of other analysts have also weighed in on ODFL. Barclays dropped their price objective on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Susquehanna increased their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. Stifel Nicolaus increased their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America reissued a “neutral” rating and set a $223.00 price objective (up previously from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Finally, Raymond James dropped their price objective on Old Dominion Freight Line from $212.50 to $207.50 and set an “outperform” rating for the company in a research note on Monday, December 11th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $212.59.

Old Dominion Freight Line Stock Down 3.4 %

Shares of ODFL opened at $215.04 on Tuesday. The firm has a market cap of $46.81 billion, a P/E ratio of 38.20, a P/E/G ratio of 3.22 and a beta of 1.02. The stock has a 50 day simple moving average of $220.57 and a two-hundred day simple moving average of $205.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. Old Dominion Freight Line’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. On average, analysts forecast that Old Dominion Freight Line will post 6.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $495,387,000. International Assets Investment Management LLC raised its position in shares of Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after purchasing an additional 703,471 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Old Dominion Freight Line by 117.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company’s stock worth $195,129,000 after purchasing an additional 411,516 shares during the last quarter. Barclays PLC raised its position in shares of Old Dominion Freight Line by 118.5% in the 4th quarter. Barclays PLC now owns 546,680 shares of the transportation company’s stock worth $221,584,000 after purchasing an additional 296,476 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Old Dominion Freight Line by 39,577.3% in the 1st quarter. Renaissance Technologies LLC now owns 277,741 shares of the transportation company’s stock worth $82,956,000 after purchasing an additional 277,041 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

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.