UBS Group Boosts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $216.00

Key Points

• UBS Group raised its price target on Old Dominion Freight Line from $202 to $216 while keeping a "neutral" rating, implying only about a 1.68% upside from the prior close.
• Analyst consensus remains a Hold with a consensus target of $203.96 (8 Buys, 16 Holds, 2 Sells), though individual targets range up to ~$225.
• Old Dominion beat Q1 estimates with EPS of $1.14 (vs. $1.05 est.) and $1.33B revenue (down 2.9% YoY); the stock trades near $212 with a market cap of ~$44.3B and a P/E around 44.4.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price increased by equities researchers at UBS Group from $202.00 to $216.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a "neutral" rating on the transportation company's stock. UBS Group's price objective points to a potential upside of 1.68% from the company's previous close.

A number of other equities analysts also recently issued reports on the company. Argus upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 price target on the stock in a research note on Thursday, February 12th. Truist Financial set a $225.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an "equal weight" rating in a report on Thursday. Rothschild & Co Redburn lifted their price target on shares of Old Dominion Freight Line from $114.00 to $176.00 and gave the stock a "sell" rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $203.96.

Old Dominion Freight Line Stock Performance

ODFL opened at $212.43 on Thursday. The company's 50-day simple moving average is $201.00 and its two-hundred day simple moving average is $172.87. The stock has a market capitalization of $44.25 billion, a P/E ratio of 44.44, a P/E/G ratio of 4.37 and a beta of 1.20. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 earnings per share. Research analysts forecast that Old Dominion Freight Line will post 5.15 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the sale, the director owned 11,278 shares in the company, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares of the company's stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its stake in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Reflection Asset Management bought a new position in Old Dominion Freight Line during the fourth quarter valued at $28,000. Evolution Wealth Management Inc. purchased a new position in shares of Old Dominion Freight Line in the 1st quarter worth $29,000. Finally, DT Investment Partners LLC increased its holdings in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.