Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by analysts at Susquehanna from $210.00 to $225.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential upside of 15.59% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Finally, Bank of America lowered their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $201.83.

Old Dominion Freight Line Trading Up 1.4 %

Shares of Old Dominion Freight Line stock opened at $194.66 on Wednesday. The firm’s 50 day simple moving average is $195.23 and its two-hundred day simple moving average is $196.13. The firm has a market capitalization of $42.30 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.33 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Old Dominion Freight Line will post 5.64 EPS for the current year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the 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 completion of the transaction, the chairman now 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 available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’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 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.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $6,836,000. Clearbridge Investments LLC raised its stake in shares of Old Dominion Freight Line by 39.1% during the 2nd quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock worth $123,294,000 after buying an additional 196,350 shares during the last quarter. Heartland Bank & Trust Co boosted its position in shares of Old Dominion Freight Line by 101.5% in the 2nd quarter. Heartland Bank & Trust Co now owns 3,136 shares of the transportation company’s stock worth $554,000 after buying an additional 1,580 shares in the last quarter. IMS Capital Management purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $378,000. Finally, Truist Financial Corp lifted its holdings in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares in the last quarter. 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.