Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $205.00 at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by stock analysts at Bank of America from $223.00 to $205.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target indicates a potential upside of 4.68% from the company’s current price.

A number of other brokerages have also weighed in on ODFL. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays cut their price objective on Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $212.26.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $0.77 on Thursday, hitting $195.83. The company’s stock had a trading volume of 1,283,892 shares, compared to its average volume of 1,373,011. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $221.04 and a 200-day moving average price of $206.68. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The firm has a market cap of $42.63 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 3.15 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. On average, equities analysts anticipate that Old Dominion Freight Line will post 6.35 earnings per share for the current year.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth $495,387,000. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after purchasing an additional 703,471 shares during the period. Canal Capital Management LLC grew its position in shares of Old Dominion Freight Line by 100.8% during the 1st quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock worth $124,019,000 after purchasing an additional 283,884 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Old Dominion Freight Line by 101.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 495,051 shares of the transportation company’s stock valued at $108,570,000 after buying an additional 248,948 shares in the last quarter. 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.