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

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by investment analysts at Jefferies Financial Group from $230.00 to $250.00 in a research report issued on Tuesday,MarketScreener reports. The firm currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 1.21% from the company’s previous close.

Several other research analysts also recently commented on ODFL. UBS Group raised their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Barclays set a $210.00 price objective on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn lowered their price objective 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. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $210.71.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $247.01 on Tuesday. The company has a market capitalization of $51.37 billion, a P/E ratio of 51.68, a P/E/G ratio of 4.92 and a beta of 1.17. The company’s 50-day simple moving average is $211.06 and its two-hundred day simple moving average is $186.70. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $250.69.

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

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors have recently modified their holdings of ODFL. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Reflection Asset Management purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $28,000. Evolution Wealth Management Inc. acquired a new stake in Old Dominion Freight Line in the first quarter valued at approximately $29,000. DT Investment Partners LLC boosted its stake in Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in Old Dominion Freight Line in the third quarter worth $37,000. 77.82% of the stock is currently owned by institutional investors.

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.