Old Dominion Freight Line (NASDAQ:ODFL) Stock Gets Price Target Reduction from Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by research analysts at Susquehanna from $202.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna‘s target price would indicate a potential upside of 17.26% from the stock’s current price.

A number of other research analysts have also commented on ODFL. Zacks Research lowered shares of Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and reduced their target price for the company from $231.00 to $223.00 in a research note on Tuesday, September 8th. Raymond James Financial reissued an “outperform” rating and set a $210.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, October 29th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $244.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $217.22.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $170.56 on Friday. The stock has a market cap of $35.37 billion, a P/E ratio of 30.68, a PEG ratio of 2.93 and a beta of 1.14. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $252.03. The company has a fifty day moving average price of $181.52 and a 200 day moving average price of $201.49.

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

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.20% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Old Dominion Freight Line during the second quarter worth about $3,416,007,000. Bank of New York Mellon Corp acquired a new stake in Old Dominion Freight Line during the second quarter valued at approximately $543,289,000. Legal & General Group Plc bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $253,155,000. Caisse de depot et placement du Quebec acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $190,557,000. Finally, Bank of America Corp DE bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $160,147,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.