Jefferies Financial Group Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $210.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by investment analysts at Jefferies Financial Group from $195.00 to $210.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s target price points to a potential downside of 2.86% from the stock’s current price.

Several other brokerages have also recently weighed in on ODFL. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Barclays set a $185.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target for the company. in a report on Thursday, February 5th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $209.00 price objective (up from $190.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $190.50.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $216.19 on Tuesday. The stock has a market cap of $45.06 billion, a price-to-earnings ratio of 44.76, a price-to-earnings-growth ratio of 10.37 and a beta of 1.23. The firm has a 50-day moving average of $182.25 and a two-hundred day moving average of $157.35. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the sale, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 80,134 shares of company stock valued at $15,640,132 over the last 90 days. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently modified their holdings of the business. Brighton Jones LLC boosted its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after buying an additional 5,866 shares during the last quarter. World Investment Advisors lifted its stake in shares of Old Dominion Freight Line by 10.3% during the second quarter. World Investment Advisors now owns 2,810 shares of the transportation company’s stock worth $456,000 after buying an additional 263 shares during the period. Assetmark Inc. lifted its stake in shares of Old Dominion Freight Line by 10.5% during the second quarter. Assetmark Inc. now owns 1,756 shares of the transportation company’s stock worth $285,000 after buying an additional 167 shares during the period. Finally, Partners Group Holding AG grew its holdings in shares of Old Dominion Freight Line by 24.4% during the second quarter. Partners Group Holding AG now owns 160,661 shares of the transportation company’s stock valued at $26,075,000 after buying an additional 31,547 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.