Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $250.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective hoisted by equities research analysts at Truist Financial from $225.00 to $250.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Truist Financial’s target price would suggest a potential upside of 9.36% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Friday. Rothschild & Co Redburn reduced their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a research report on Tuesday, May 12th. UBS Group raised their price target on shares of Old Dominion Freight Line from $216.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $235.00 to $250.00 in a research note on Wednesday, July 8th. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Ten research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $222.00.

Old Dominion Freight Line Trading Down 1.8%

Shares of Old Dominion Freight Line stock opened at $228.61 on Wednesday. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03. The stock has a market cap of $47.54 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 4.24 and a beta of 1.18. The company has a fifty day moving average price of $219.79 and a 200 day moving average price of $200.92.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $1.19 earnings per share. Analysts forecast that Old Dominion Freight Line will post 5.51 earnings per share for the current year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction 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 transaction, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC increased its stake in Old Dominion Freight Line by 9.9% during the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 46 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after buying an additional 55 shares during the last quarter. Keybank National Association OH raised its stake in Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after acquiring an additional 56 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after acquiring an additional 57 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.