Robert W. Baird Upgrades Old Dominion Freight Line (NASDAQ:ODFL) to “Outperform”

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $205.00 price objective on the transportation company’s stock. Robert W. Baird’s price objective points to a potential upside of 10.94% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Evercore ISI lowered their price target on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Susquehanna lifted their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Raymond James upped their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, TD Cowen cut their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $209.08.

Old Dominion Freight Line Trading Up 2.6 %

Shares of ODFL stock opened at $184.79 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The business has a 50-day moving average of $215.39 and a 200 day moving average of $205.32. The stock has a market capitalization of $40.22 billion, a PE ratio of 32.53, a P/E/G ratio of 2.94 and a beta of 1.07. 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 released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share 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 firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 6.04 earnings per share for the current year.

Insider Transactions at Old Dominion Freight Line

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 completion of the transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently bought and sold shares of ODFL. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $27,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line in the fourth quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Headinvest LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $34,000. 77.82% of the stock is currently owned by institutional investors.

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.