Old Dominion Freight Line (NASDAQ:ODFL) Price Target Increased to $225.00 by Analysts at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by stock analysts at Susquehanna from $210.00 to $225.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price objective indicates a potential upside of 15.59% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Stephens reissued an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Evercore ISI restated an “in-line” rating and set a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Stock Up 1.4 %

Shares of NASDAQ ODFL opened at $194.66 on Wednesday. The firm has a fifty day simple moving average of $195.23 and a two-hundred day simple moving average of $196.13. The firm has a market capitalization of $42.30 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. Equities analysts expect that Old Dominion Freight Line will post 5.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in ODFL. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after buying an additional 2,888,205 shares during the period. Capital Research Global Investors increased its holdings in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the period. Finally, Capital World Investors raised its stake in Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

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.