Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $202.00 by Analysts at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by equities researchers at Susquehanna from $232.00 to $202.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective suggests a potential upside of 13.42% from the company’s previous close.

ODFL has been the subject of a number of other reports. Truist Financial raised their price target on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley reissued an “equal weight” rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and reduced their target price for the company from $231.00 to $223.00 in a research note on Tuesday, September 8th. Weiss Ratings lowered Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Bank of America dropped their price target on Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th. Ten investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $226.35.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $178.10 on Friday. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.92 and a beta of 1.20. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $252.03. The stock’s 50 day moving average price is $196.69 and its two-hundred day moving average price is $208.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $1.27 EPS. Old Dominion Freight Line’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.78 EPS for the current year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new position in Old Dominion Freight Line during the second quarter worth about $25,000. Solstein Capital LLC purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Reflection Asset Management bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $28,000. Finally, Evolution Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line during the 1st quarter worth approximately $29,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.