Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $234.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by equities researchers at JPMorgan Chase & Co. from $197.00 to $234.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 3.53% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial restated an “outperform” rating and set a $224.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Barclays set a $210.00 target price on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Rothschild & Co Redburn reduced their price target on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Finally, Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $209.88.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $242.57 on Monday. The company’s 50-day moving average price is $209.88 and its 200 day moving average price is $185.89. The company has a market cap of $50.45 billion, a PE ratio of 50.75, a P/E/G ratio of 4.92 and a beta of 1.17. Old Dominion Freight Line has a fifty-two week low of $126.01 and a fifty-two week high of $249.14.

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

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of Old Dominion Freight Line by 5.3% in the 1st quarter. Parallel Advisors LLC now owns 2,500 shares of the transportation company’s stock valued at $489,000 after purchasing an additional 125 shares during the period. NewEdge Advisors LLC raised its holdings in Old Dominion Freight Line by 8.7% during the 1st quarter. NewEdge Advisors LLC now owns 5,895 shares of the transportation company’s stock worth $1,152,000 after buying an additional 470 shares during the period. First Nebraska Trust Co purchased a new stake in Old Dominion Freight Line during the first quarter valued at about $379,000. Axiom Investment Management LLC purchased a new stake in Old Dominion Freight Line during the first quarter valued at about $63,000. Finally, Summitry LLC boosted its holdings in shares of Old Dominion Freight Line by 2.5% in the first quarter. Summitry LLC now owns 223,625 shares of the transportation company’s stock worth $43,696,000 after buying an additional 5,450 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.