Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $160.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by equities researchers at Wells Fargo & Company from $170.00 to $160.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 19.11% from the stock’s current price.

Several other brokerages also recently weighed in on ODFL. Morgan Stanley reduced their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Citigroup initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price objective for the company. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Barclays decreased their price target on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Stock Up 3.1 %

ODFL stock opened at $197.79 on Thursday. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s fifty day moving average is $195.53 and its 200 day moving average is $190.66. The firm has a market cap of $42.98 billion, a PE ratio of 33.90, a P/E/G ratio of 4.20 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 EPS. On average, research analysts forecast that Old Dominion Freight Line will post 5.56 EPS for the current year.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Vanguard Group Inc. grew its stake in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares in the last quarter. Capital Research Global Investors grew its position in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares during the period. Finally, Capital World Investors increased its position in shares of Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 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.