Old Dominion Freight Line, Inc. (NASDAQ:ODFL) had its price target lifted by equities research analysts at Morgan Stanley from $87.00 to $91.00 in a research note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 15.77% from the stock’s previous close.

ODFL has been the subject of several other reports. Credit Suisse Group reissued an “outperform” rating and issued a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $108.00 to $98.00 in a research report on Monday, July 31st. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Tuesday. Finally, Buckingham Research started coverage on shares of Old Dominion Freight Line in a research report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $99.64.

Old Dominion Freight Line (NASDAQ ODFL) traded down 0.84% during trading on Thursday, reaching $107.13. 226,537 shares of the company were exchanged. Old Dominion Freight Line has a 1-year low of $68.82 and a 1-year high of $110.45. The company’s 50-day moving average price is $101.41 and its 200-day moving average price is $93.42. The stock has a market capitalization of $8.83 billion, a P/E ratio of 27.75 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.09. The company had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. On average, equities analysts forecast that Old Dominion Freight Line will post $4.14 EPS for the current year.

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In other news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. M&T Bank Corp raised its holdings in shares of Old Dominion Freight Line by 0.3% in the 1st quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock valued at $453,000 after purchasing an additional 14 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Old Dominion Freight Line by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock worth $534,000 after acquiring an additional 49 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Old Dominion Freight Line by 1.9% during the 2nd quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock worth $710,000 after acquiring an additional 140 shares in the last quarter. First Quadrant L P CA raised its stake in shares of Old Dominion Freight Line by 0.4% during the 2nd quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock worth $3,190,000 after acquiring an additional 140 shares in the last quarter. Finally, Atria Investments LLC raised its stake in shares of Old Dominion Freight Line by 5.5% during the 2nd quarter. Atria Investments LLC now owns 2,925 shares of the transportation company’s stock worth $279,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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