Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $219.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by analysts at JPMorgan Chase & Co. from $231.00 to $219.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 20.05% from the company’s previous close.

Several other equities research analysts have also issued reports on ODFL. UBS Group increased their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays cut their price objective on shares of Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. Finally, Raymond James increased their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $210.97.

Old Dominion Freight Line Trading Down 7.2 %

Old Dominion Freight Line stock opened at $182.42 on Thursday. The firm has a 50 day moving average of $220.06 and a 200 day moving average of $206.41. The firm has a market capitalization of $39.71 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.07 and a beta of 1.02. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, research analysts predict 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 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 sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its stake in Old Dominion Freight Line by 0.4% in the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock worth $9,528,000 after purchasing an additional 92 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Old Dominion Freight Line by 14.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after purchasing an additional 2,335 shares during the period. Czech National Bank increased its stake in shares of Old Dominion Freight Line by 47.1% during the third quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock valued at $6,408,000 after buying an additional 5,017 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at $783,000. Finally, Pittenger & Anderson Inc. increased its stake in shares of Old Dominion Freight Line by 617.3% during the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after buying an additional 5,445 shares during the period. Hedge funds and other 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.