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

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by JPMorgan Chase & Co. from $231.00 to $219.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 10.73% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Susquehanna boosted their price target on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a report on Thursday, February 8th. Barclays cut their price target on shares of Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus boosted their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Bank of America cut their price target on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.56.

Old Dominion Freight Line Trading Up 1.4 %

Shares of ODFL stock traded up $2.71 during trading hours on Thursday, hitting $197.77. 1,550,725 shares of the company’s stock traded hands, compared to its average volume of 1,375,261. The stock’s 50 day simple moving average is $221.04 and its 200 day simple moving average is $206.68. The stock has a market cap of $43.05 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 3.15 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 quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts anticipate that Old Dominion Freight Line will post 6.35 EPS for the current year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, February 27th. The shares were 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 directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds have recently modified their holdings of the company. Meridian Wealth Management LLC raised its stake in Old Dominion Freight Line by 118.4% during the third quarter. Meridian Wealth Management LLC now owns 1,284 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 696 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Old Dominion Freight Line by 106.9% during the third quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the transportation company’s stock valued at $1,057,000 after purchasing an additional 1,335 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in Old Dominion Freight Line during the third quarter valued at $673,000. CX Institutional purchased a new stake in Old Dominion Freight Line during the third quarter valued at $389,000. Finally, UMB Bank n.a. raised its stake in Old Dominion Freight Line by 15.8% during the third quarter. UMB Bank n.a. now owns 242 shares of the transportation company’s stock valued at $99,000 after purchasing an additional 33 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

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.