Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $220.00

Key Points

• Barclays raised Old Dominion Freight Line’s price target from $210 to $220, implying only a modest upside from the current share price.
• Other analysts remain mixed on the stock, with the overall consensus rating at Hold and an average price target of $218.57.
• Old Dominion recently beat quarterly earnings and revenue estimates, reporting $1.14 EPS on $1.33 billion in revenue, even though revenue declined year over year.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price boosted by equities researchers at Barclays from $210.00 to $220.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. Barclays's price target suggests a potential upside of 0.44% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings restated a "hold (c)" rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Raymond James Financial reaffirmed an "outperform" rating and issued a $224.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reissued a "buy" rating and set a $235.00 target price (up from $209.00) on shares of Old Dominion Freight Line in a research note on Tuesday. Finally, TD Cowen restated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $218.57.

Old Dominion Freight Line Stock Up 0.7%

Shares of NASDAQ ODFL opened at $219.04 on Thursday. The stock's fifty day simple moving average is $218.27 and its 200 day simple moving average is $194.58. The stock has a market capitalization of $45.55 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 4.37 and a beta of 1.17. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line's revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, analysts anticipate that Old Dominion Freight Line will post 5.43 earnings per share for the current year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of ODFL. Bogart Wealth LLC increased its position in Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company's stock worth $100,000 after purchasing an additional 46 shares during the last quarter. Private Advisor Group LLC increased its holdings in Old Dominion Freight Line by 1.3% in the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company's stock worth $814,000 after buying an additional 55 shares during the last quarter. Keybank National Association OH raised its position in Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company's stock valued at $479,000 after acquiring an additional 56 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company's stock valued at $101,000 after acquiring an additional 57 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Old Dominion Freight Line by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company's stock valued at $812,000 after acquiring an additional 60 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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