BMO Capital Markets Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by investment analysts at BMO Capital Markets from $210.00 to $205.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the transportation company’s stock. BMO Capital Markets’ target price indicates a potential upside of 7.45% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Stephens restated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Barclays dropped their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $198.06.

Old Dominion Freight Line Trading Up 1.1 %

Shares of ODFL traded up $2.11 on Thursday, hitting $190.78. 63,515 shares of the stock traded hands, compared to its average volume of 1,543,070. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $41.45 billion, a P/E ratio of 33.59, a P/E/G ratio of 4.18 and a beta of 0.99. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80. The stock’s 50 day moving average is $195.69 and its two-hundred day moving average is $190.84.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. The company’s revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Old Dominion Freight Line will post 5.59 earnings per share for the current year.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on 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 sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line during the second quarter worth $25,000. Farmers & Merchants Investments Inc. increased its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings 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 worth $27,000 after buying an additional 148 shares during the period. Washington Trust Advisors Inc. boosted its holdings in Old Dominion Freight Line by 138.3% in the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after acquiring an additional 163 shares during the period. 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.