Old Dominion Freight Line (NASDAQ:ODFL) Given New $216.00 Price Target at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $232.00 to $216.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 25.17% from the stock’s current price.

Several other equities analysts have also commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $190.00 price target on shares of Old Dominion Freight Line in a research note on Thursday. Sanford C. Bernstein assumed coverage on Old Dominion Freight Line in a research report on Thursday, September 10th. They set a “market perform” rating and a $200.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating and issued a $244.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. BMO Capital Markets set a $235.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $217.30.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $172.56 on Friday. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $252.03. The stock has a market cap of $35.78 billion, a P/E ratio of 31.04, a PEG ratio of 2.82 and a beta of 1.14. The company has a 50-day moving average price of $183.55 and a 200 day moving average price of $201.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. As a group, analysts forecast that Old Dominion Freight Line will post 5.93 EPS for the current year.

Insider Activity at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently added to or reduced their stakes in ODFL. BlackRock Inc. acquired a new position in shares of Old Dominion Freight Line in the second quarter worth $3,416,007,000. Bank of New York Mellon Corp acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at $543,289,000. Legal & General Group Plc acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at $253,155,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Old Dominion Freight Line by 14.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock valued at $241,367,000 after purchasing an additional 142,809 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Old Dominion Freight Line by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,104,713 shares of the transportation company’s stock valued at $215,808,000 after purchasing an additional 12,245 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.