Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $210.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by research analysts at Barclays to $210.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective would suggest a potential downside of 5.63% from the company’s current price.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Old Dominion Freight Line in a report on Monday, March 11th. They issued a “neutral” rating and a $232.50 price target for the company. Raymond James decreased their target price on shares of Old Dominion Freight Line from $212.50 to $207.50 and set an “outperform” rating for the company in a research note on Monday, December 11th. Susquehanna raised their price target 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. Stifel Nicolaus upped their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $212.59.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $2.17 during trading hours on Thursday, hitting $222.52. The company’s stock had a trading volume of 886,133 shares, compared to its average volume of 1,331,547. The stock has a market cap of $48.44 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 3.21 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 50 day moving average of $219.68 and a 200 day moving average of $205.66. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.04. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line will post 6.38 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction 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 of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Old Dominion Freight Line by 4,027.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,486 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 1,450 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of Old Dominion Freight Line by 2.8% during the first quarter. Cibc World Market Inc. now owns 1,846 shares of the transportation company’s stock worth $551,000 after purchasing an additional 50 shares during the last quarter. Sei Investments Co. increased its position in shares of Old Dominion Freight Line by 5.5% during the first quarter. Sei Investments Co. now owns 54,600 shares of the transportation company’s stock worth $16,294,000 after purchasing an additional 2,854 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Old Dominion Freight Line by 29.8% in the 1st quarter. Allianz Asset Management GmbH now owns 26,717 shares of the transportation company’s stock valued at $7,979,000 after purchasing an additional 6,133 shares during the last quarter. Finally, Prudential PLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at about $758,000. Institutional investors and hedge funds 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.