Susquehanna Trims Old Dominion Freight Line (NASDAQ:ODFL) Target Price to $218.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by analysts at Susquehanna from $225.00 to $218.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the transportation company’s stock. Susquehanna’s price target indicates a potential upside of 15.12% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Barclays dropped their price target on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup began coverage on shares of Old Dominion Freight Line in a research note on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price for the company. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $197.11.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded up $0.70 during midday trading on Thursday, hitting $189.37. The company’s stock had a trading volume of 611,367 shares, compared to its average volume of 1,545,729. 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 1-year low of $165.49 and a 1-year high of $227.80. The firm’s fifty day moving average price is $195.69 and its 200-day moving average price is $190.84. The firm has a market cap of $41.15 billion, a P/E ratio of 33.54, a P/E/G ratio of 4.18 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating 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 return on equity of 30.33% and a net margin of 21.38%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.59 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the period. Bank of New York Mellon Corp increased its stake in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after acquiring an additional 270,538 shares during the period. Finally, Capital World Investors increased its position in shares of Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the period. Institutional investors own 77.82% of the company’s stock.

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.