Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $205.00 at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by equities researchers at Bank of America from $223.00 to $205.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 4.68% from the stock’s previous close.

A number of other research firms also recently weighed in on ODFL. Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Raymond James upped their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Barclays decreased their target price on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $212.26.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded up $0.77 on Thursday, reaching $195.83. The company’s stock had a trading volume of 1,283,892 shares, compared to its average volume of 1,373,011. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $221.04 and a 200 day moving average price of $206.68. The firm has a market cap of $42.63 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 3.15 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. Sell-side analysts expect that Old Dominion Freight Line will post 6.35 EPS for the current year.

Insider Activity

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently made changes to their positions in ODFL. Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after acquiring an additional 81,122 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after buying an additional 12,016 shares in the last quarter. Invesco Ltd. grew its stake in shares of Old Dominion Freight Line by 1.3% during the third quarter. Invesco Ltd. now owns 1,397,382 shares of the transportation company’s stock worth $571,725,000 after buying an additional 18,418 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $495,387,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.