Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, Susquehanna Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by research analysts at Susquehanna from $224.00 to $228.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price target suggests a potential downside of 2.10% from the stock’s current price.

Other analysts have also issued research reports about the company. Stifel Nicolaus boosted their price target on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Evercore raised Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Stephens restated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $220.91.

Old Dominion Freight Line Price Performance

ODFL stock opened at $232.90 on Tuesday. The company has a market capitalization of $48.44 billion, a PE ratio of 48.72, a P/E/G ratio of 4.16 and a beta of 1.18. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $252.03. The firm’s 50-day moving average is $219.14 and its 200 day moving average is $200.42.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Sell-side analysts forecast that Old Dominion Freight Line will post 5.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors have recently made changes to their positions in ODFL. Brighton Jones LLC boosted its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares in the last quarter. Empowered Funds LLC raised its position in shares of Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in Old Dominion Freight Line in the 2nd quarter worth approximately $7,478,000. Jump Financial LLC acquired a new stake in Old Dominion Freight Line in the 2nd quarter worth approximately $2,891,000. Finally, AXA S.A. grew its position in Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after purchasing an additional 238 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.