Old Dominion Freight Line (NASDAQ:ODFL) Stock Rating Upgraded by Robert W. Baird

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm presently has a $205.00 price objective on the transportation company’s stock. Robert W. Baird’s price objective suggests a potential upside of 11.92% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Stifel Nicolaus increased their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Barclays dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $209.08.

Old Dominion Freight Line Price Performance

ODFL stock opened at $183.16 on Wednesday. The company has a market cap of $39.87 billion, a price-to-earnings ratio of 32.25, a PEG ratio of 2.94 and a beta of 1.07. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $213.93 and a 200-day moving average of $205.00. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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 firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities analysts expect that Old Dominion Freight Line will post 6.04 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its stake in shares of Old Dominion Freight Line by 0.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after acquiring an additional 92 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Old Dominion Freight Line by 14.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after purchasing an additional 2,335 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Old Dominion Freight Line during the third quarter worth about $783,000. Pittenger & Anderson Inc. boosted its position in shares of Old Dominion Freight Line by 617.3% in the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock worth $2,589,000 after buying an additional 5,445 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Old Dominion Freight Line by 35.8% in the third quarter. Principal Financial Group Inc. now owns 164,248 shares of the transportation company’s stock valued at $67,200,000 after buying an additional 43,339 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.