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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target cut by equities research analysts at Evercore ISI from $241.00 to $225.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the transportation company’s stock. Evercore ISI’s target price would suggest a potential upside of 16.77% from the company’s current price.

Several other equities research analysts have also issued reports on ODFL. Barclays lowered their target price on shares of Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Stifel Nicolaus increased their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Bank of America reiterated a “neutral” rating and issued a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Finally, Susquehanna boosted 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 research report on Thursday, February 8th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $213.84.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $2.38 during trading on Thursday, reaching $192.68. 420,078 shares of the company traded hands, compared to its average volume of 1,362,250. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $41.94 billion, a PE ratio of 34.33, a PEG ratio of 3.15 and a beta of 1.02. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The company’s 50 day moving average is $221.04 and its two-hundred day moving average is $206.68.

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

Insider Buying and Selling at Old Dominion Freight Line

In other 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 value of $3,524,819.80. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Argus Investors Counsel Inc. boosted its stake in shares of Old Dominion Freight Line by 97.7% in the first quarter. Argus Investors Counsel Inc. now owns 15,798 shares of the transportation company’s stock worth $3,465,000 after acquiring an additional 7,807 shares during the period. Freedom Day Solutions LLC raised its stake in shares of Old Dominion Freight Line by 97.4% during the 1st quarter. Freedom Day Solutions LLC now owns 9,599 shares of the transportation company’s stock valued at $2,105,000 after buying an additional 4,736 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Old Dominion Freight Line by 14.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,527 shares of the transportation company’s stock valued at $3,844,000 after acquiring an additional 2,260 shares during the period. V Square Quantitative Management LLC increased its stake in Old Dominion Freight Line by 65.8% during the 1st quarter. V Square Quantitative Management LLC now owns 2,540 shares of the transportation company’s stock worth $557,000 after buying an additional 1,008 shares in the last quarter. Finally, Alta Advisers Ltd grew its position in shares of Old Dominion Freight Line by 100.0% in the first quarter. Alta Advisers Ltd now owns 600 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.