Old Dominion Freight Line (NASDAQ:ODFL) Given New $182.00 Price Target at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its target price upped by research analysts at JPMorgan Chase & Co. from $168.00 to $182.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 6.68% from the stock’s current price.

ODFL has been the subject of a number of other research reports. Susquehanna reissued a “neutral” rating and issued a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 11th. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, January 8th. Evercore upped their target price on shares of Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Stephens reissued an “overweight” rating and issued a $232.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $195.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Nine 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 stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $191.08.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $2.20 during trading on Tuesday, reaching $195.02. The company’s stock had a trading volume of 1,520,918 shares, compared to its average volume of 2,360,787. The firm has a fifty day moving average of $184.76 and a 200 day moving average of $158.43. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $221.63. The stock has a market capitalization of $40.65 billion, a PE ratio of 40.38, a P/E/G ratio of 4.08 and a beta of 1.23.

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

Insiders Place Their Bets

In other news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock valued at $15,640,132 in the last ninety days. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the company. Worthington Financial Partners LLC bought a new stake in Old Dominion Freight Line in the 4th quarter worth $599,000. Rehmann Capital Advisory Group purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $203,000. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $28,000. Pacer Advisors Inc. increased its holdings in Old Dominion Freight Line by 2.6% during the 4th quarter. Pacer Advisors Inc. now owns 30,469 shares of the transportation company’s stock valued at $4,778,000 after purchasing an additional 766 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in Old Dominion Freight Line by 251.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 19,300 shares of the transportation company’s stock valued at $3,026,000 after purchasing an additional 13,805 shares during the period. 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.