Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $172.00 by Analysts at Rothschild & Co Redburn

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by investment analysts at Rothschild & Co Redburn from $176.00 to $172.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a “sell” rating on the transportation company’s stock. Rothschild & Co Redburn’s target price points to a potential downside of 11.66% from the company’s previous close.

A number of other equities research analysts have also recently commented on ODFL. UBS Group raised their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 target price for the company. in a research report on Thursday, February 5th. Finally, Wolfe Research lifted their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $194.70 on Tuesday. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $233.79. The firm has a market cap of $40.49 billion, a PE ratio of 41.17, a P/E/G ratio of 4.06 and a beta of 1.17. The firm’s fifty day moving average is $201.12 and its two-hundred day moving average is $175.45.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Old Dominion Freight Line will post 5.32 earnings per share for the current year.

Insider Transactions 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 stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,241 shares of company stock valued at $19,874,065 over the last 90 days. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. lifted its stake in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted 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 worth $27,000 after purchasing an additional 62 shares during the period. Reflection Asset Management acquired a new position in Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. purchased a new position in Old Dominion Freight Line during the 1st quarter worth approximately $29,000. Finally, DT Investment Partners LLC raised its stake in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 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 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.