Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $206.00 at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by research analysts at Bank of America from $210.00 to $206.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential upside of 12.30% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Morgan Stanley lowered their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Evercore ISI restated an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday. BMO Capital Markets raised their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $201.22.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $2.62 during midday trading on Friday, reaching $183.44. 529,758 shares of the company were exchanged, compared to its average volume of 1,582,001. The stock has a market cap of $39.86 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The business’s fifty day moving average is $193.92 and its two-hundred day moving average is $197.74. Old Dominion Freight Line has a one year low of $165.49 and a one year 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 posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. As a group, analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $40,000. Farmers & Merchants Investments Inc. increased its position in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of Old Dominion Freight Line by 135.7% during the 4th quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after buying an additional 76 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

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.