Robert W. Baird Trims Old Dominion Freight Line (NASDAQ:ODFL) Target Price to $200.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective cut by equities research analysts at Robert W. Baird from $204.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s price target points to a potential upside of 6.01% from the stock’s current price.

Several other research firms have also recently commented on ODFL. BMO Capital Markets cut shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $214.00 to $210.00 in a research note on Friday, October 18th. Wells Fargo & Company cut their price target on 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. Stephens reiterated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Morgan Stanley decreased their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, Raymond James increased their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $198.61.

Old Dominion Freight Line Stock Down 5.5 %

Shares of NASDAQ ODFL opened at $188.67 on Thursday. The business has a fifty day moving average of $195.69 and a two-hundred day moving average of $190.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a market cap of $41.00 billion, a PE ratio of 33.22, a PEG ratio of 4.18 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.54 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Insider Activity at Old Dominion Freight Line

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ODFL. Sequoia Financial Advisors LLC grew its position in Old Dominion Freight Line by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after buying an additional 395 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its holdings in shares of Old Dominion Freight Line by 98.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares in the last quarter. Truist Financial Corp increased its position in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares during the period. Forsta AP Fonden raised its stake in Old Dominion Freight Line by 65.0% in the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Old Dominion Freight Line by 98.6% during the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after purchasing an additional 21,438 shares during the period. 77.82% of the stock is owned by institutional investors.

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.