Old Dominion Freight Line (NASDAQ:ODFL) Given New $250.00 Price Target at Jefferies Financial Group

Old Dominion Freight Line (NASDAQ:ODFL) had its target price hoisted by analysts at Jefferies Financial Group from $230.00 to $250.00 in a report released on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 1.21% from the stock’s previous close.

A number of other research analysts also recently commented on ODFL. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Susquehanna upped their price target on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday. Finally, Citigroup restated a “neutral” rating and issued a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Eight 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’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $210.71.

Old Dominion Freight Line Stock Up 1.8%

ODFL opened at $247.01 on Tuesday. The company has a market capitalization of $51.37 billion, a PE ratio of 51.68, a price-to-earnings-growth ratio of 4.92 and a beta of 1.17. The firm has a 50-day simple moving average of $211.06 and a two-hundred day simple moving average of $186.70. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $250.69.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.37 earnings per share for the current year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management bought a new position in Old Dominion Freight Line in the 4th quarter valued at $28,000. Evolution Wealth Management Inc. purchased a new stake in Old Dominion Freight Line in the first quarter worth $29,000. DT Investment Partners LLC lifted its position in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $37,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.