Old Dominion Freight Line (NASDAQ:ODFL) Rating Increased to Outperform at Robert W. Baird

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $205.00 price objective on the transportation company’s stock. Robert W. Baird’s price target would indicate a potential upside of 10.94% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Bank of America reduced their target price on Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. UBS Group upped their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. Raymond James upped their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Susquehanna lifted their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $209.08.

Old Dominion Freight Line Stock Up 2.6 %

Shares of NASDAQ ODFL opened at $184.79 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $215.39 and a 200 day moving average of $205.32. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The stock has a market cap of $40.22 billion, a PE ratio of 32.53, a P/E/G ratio of 2.94 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, sell-side analysts predict that Old Dominion Freight Line will post 6.04 EPS for the current fiscal year.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. raised its holdings in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Finally, Headinvest LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $30,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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.