Susquehanna Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective cut by investment analysts at Susquehanna from $202.00 to $200.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Susquehanna‘s price target would suggest a potential upside of 21.27% from the stock’s current price.

ODFL has been the topic of a number of other research reports. Wolfe Research raised shares of Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 7th. Sanford C. Bernstein began coverage on shares of Old Dominion Freight Line in a research note on Thursday, September 10th. They issued a “market perform” rating and a $200.00 target price for the company. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Truist Financial set a $230.00 price objective on Old Dominion Freight Line and gave the company a “buy” rating in a report on Wednesday, October 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $244.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given 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 $217.22.

Old Dominion Freight Line Stock Down 3.3%

ODFL opened at $164.92 on Friday. The stock’s fifty day moving average is $180.81 and its two-hundred day moving average is $201.46. The company has a market capitalization of $34.20 billion, a P/E ratio of 29.66, a PEG ratio of 2.70 and a beta of 1.14. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.61 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. Equities analysts anticipate that Old Dominion Freight Line will post 5.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.20% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $25,000. Solstein Capital LLC acquired a new stake in Old Dominion Freight Line during the second quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its position 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 purchasing an additional 62 shares during the period. EFG International AG purchased a new stake in Old Dominion Freight Line in the second quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Old Dominion Freight Line in the second quarter valued at $30,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses.

Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.