Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $205.00

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective reduced by equities researchers at Barclays from $210.00 to $205.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the transportation company's stock. Barclays's price target suggests a potential upside of 4.24% from the stock's current price.

Several other equities research analysts have also recently issued reports on ODFL. Raymond James raised their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an "outperform" rating in a report on Monday, April 15th. UBS Group lifted their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a "positive" rating in a research note on Thursday, February 8th. The Goldman Sachs Group lifted their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $211.26.

Old Dominion Freight Line Stock Up 0.8 %

Shares of ODFL traded up $1.60 on Thursday, hitting $196.66. 2,569,775 shares of the stock traded hands, compared to its average volume of 1,390,496. The company has a market capitalization of $42.81 billion, a PE ratio of 34.93, a P/E/G ratio of 3.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The business has a 50 day simple moving average of $220.65 and a 200 day simple moving average of $206.61. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.47 billion. As a group, equities analysts forecast that Old Dominion Freight Line will post 6.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company's stock valued at $1,302,786,000 after buying an additional 2,888,205 shares in the last quarter. Bridges Investment Management Inc. raised its stake in Old Dominion Freight Line by 92.7% during the first quarter. Bridges Investment Management Inc. now owns 260,684 shares of the transportation company's stock worth $57,171,000 after purchasing an additional 125,420 shares during the period. Smith Chas P & Associates PA Cpas raised its stake in Old Dominion Freight Line by 100.0% during the first quarter. Smith Chas P & Associates PA Cpas now owns 1,980 shares of the transportation company's stock worth $434,000 after purchasing an additional 990 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Old Dominion Freight Line by 2.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,966 shares of the transportation company's stock worth $7,449,000 after purchasing an additional 745 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Old Dominion Freight Line by 101.1% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,738 shares of the transportation company's stock worth $13,101,000 after purchasing an additional 30,036 shares during the period. Hedge funds and other 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.