Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Has Average Price Target of $223.48 According to Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus recommendation of “Hold” from the twenty-six analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $223.48.

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Susquehanna dropped their price objective on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $244.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus set a $230.00 price target on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Thursday, October 8th.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the 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 completion of the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Solstein Capital LLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $26,000. EFG International AG acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $29,000. Transamerica Financial Advisors LLC bought a new stake in Old Dominion Freight Line in the second quarter valued at about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $188.90 on Friday. The stock’s 50 day simple moving average is $187.19 and its 200 day simple moving average is $207.52. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03. The company has a market capitalization of $39.17 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 3.12 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts forecast that Old Dominion Freight Line will post 5.86 EPS for the current fiscal year.

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.