Robert W. Baird Upgrades Old Dominion Freight Line (NASDAQ:ODFL) to Outperform

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a $205.00 price target on the transportation company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 11.92% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Barclays cut their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. UBS Group boosted their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. TD Cowen lowered their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Susquehanna raised their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their target price on 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. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $209.08.

Old Dominion Freight Line Price Performance

ODFL opened at $183.16 on Wednesday. The stock has a fifty day moving average price of $213.93 and a 200 day moving average price of $205.00. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The stock has a market cap of $39.87 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 2.94 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Analysts forecast that Old Dominion Freight Line will post 6.04 EPS for the current fiscal year.

Insider Activity

In related news, Director John D. Kasarda sold 15,944 shares of the business’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 transaction, the director now directly owns 13,540 shares in the company, valued at $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 company insiders.

Institutional Trading of Old Dominion Freight Line

Several institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after purchasing an additional 27 shares during the period. Lido Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 3.1% during the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after acquiring an additional 29 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of Old Dominion Freight Line by 14.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 30 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 30 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in Old Dominion Freight Line by 2.4% in the third quarter. Kestra Private Wealth Services LLC now owns 1,644 shares of the transportation company’s stock worth $673,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.