Barclays Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $220.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by equities research analysts at Barclays from $190.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Barclays‘s target price points to a potential downside of 1.54% from the stock’s previous close.

A number of other research firms have also commented on ODFL. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Raymond James increased their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Finally, Susquehanna cut their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Stock Down 1.0 %

Shares of ODFL opened at $223.43 on Wednesday. The firm has a 50 day simple moving average of $200.71 and a two-hundred day simple moving average of $191.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The company has a market cap of $47.70 billion, a P/E ratio of 39.06, a P/E/G ratio of 6.36 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company posted $1.54 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts forecast that Old Dominion Freight Line will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock worth $10,062,478 in the last quarter. 9.90% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its position in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc grew its position in Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC increased its stake in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 79 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Old Dominion Freight Line during the first quarter valued at about $38,000. Institutional investors own 77.82% of the company’s stock.

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.