Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $206.00

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price target dropped by research analysts at TD Cowen from $209.00 to $206.00 in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a "hold" rating on the transportation company's stock. TD Cowen's price objective suggests a potential upside of 12.93% from the company's current price.

A number of other analysts also recently issued reports on ODFL. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a "neutral" rating on the stock in a report on Thursday. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday. Raymond James increased their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an "outperform" rating in a report on Monday, April 15th. Stifel Nicolaus increased their price objective 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. Finally, The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $210.97.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $14.24 during trading hours on Friday, hitting $182.42. The company's stock had a trading volume of 3,473,112 shares, compared to its average volume of 1,416,208. The company has a 50 day moving average of $220.06 and a 200 day moving average of $206.41. The stock has a market cap of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts forecast that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Insider Buying and Selling at Old Dominion Freight Line

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company's stock worth $2,563,843,000 after acquiring an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company's stock worth $1,302,786,000 after purchasing an additional 2,888,205 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company's stock worth $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Old Dominion Freight Line by 0.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company's stock valued at $851,971,000 after acquiring an additional 12,016 shares during the period. Finally, WCM Investment Management LLC increased its holdings in shares of Old Dominion Freight Line by 95.9% in the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company's stock valued at $435,593,000 after acquiring an additional 972,531 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

About Old Dominion Freight Line

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.