Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $224.00 at Susquehanna

Key Points

• Susquehanna raised its price target on Old Dominion Freight Line to $224 from $205 while keeping a neutral rating. The new target still implies a slight downside from the stock’s current price.
• Analysts remain mixed overall on ODFL, with the consensus rating at Hold and an average price target of $207.08. Other recent price targets ranged from $216 to $240, showing varied expectations across firms.
• Latest results came in ahead of estimates, with quarterly EPS of $1.14 versus $1.05 expected and revenue of $1.33 billion beating forecasts. However, revenue was still down 2.9% year over year, and a company director recently sold shares.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price objective boosted by analysts at Susquehanna from $205.00 to $224.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a "neutral" rating on the transportation company's stock. Susquehanna's price target would suggest a potential downside of 1.98% from the stock's current price.

ODFL has been the topic of a number of other reports. Citigroup restated a "neutral" rating and issued a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. BMO Capital Markets increased their price target on shares of Old Dominion Freight Line from $215.00 to $230.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Truist Financial set a $225.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. Stephens reaffirmed an "overweight" rating and issued a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group set a $216.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $207.08.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $228.53 on Tuesday. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $233.79. The stock has a 50 day simple moving average of $205.73 and a 200 day simple moving average of $182.95. The firm has a market capitalization of $47.53 billion, a PE ratio of 47.81, a P/E/G ratio of 4.61 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 5.32 EPS for the current fiscal year.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction 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 directly owned 88,551 shares of the company's stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC increased its position in Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company's stock worth $100,000 after buying an additional 46 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of 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 purchasing an additional 55 shares in the last quarter. Keybank National Association OH grew its holdings in Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company's stock valued at $479,000 after buying an additional 56 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of 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 buying an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of 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 worth $812,000 after buying an additional 60 shares in the last quarter. 77.82% of the stock is 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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