Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $172.00 at Rothschild & Co Redburn

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by Rothschild & Co Redburn from $176.00 to $172.00 in a research report sent to investors on Tuesday morning,MarketScreener reports. They currently have a sell rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets boosted their target price on Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Susquehanna reaffirmed a “neutral” rating and set a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Barclays set a $210.00 price objective on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Trading Down 2.1%

Shares of NASDAQ ODFL opened at $191.12 on Tuesday. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $233.79. The stock has a fifty day simple moving average of $200.88 and a 200-day simple moving average of $175.80. The stock has a market capitalization of $39.75 billion, a PE ratio of 39.98, a PEG ratio of 3.99 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that Old Dominion Freight Line will post 5.32 earnings per share for the current year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction that occurred 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 directly owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 102,241 shares of company stock valued at $19,874,065 in the last quarter. 10.00% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Westside Investment Management Inc. raised its stake in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $28,000. Evolution Wealth Management Inc. purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at approximately $29,000. Finally, DT Investment Partners LLC raised its stake in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during 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.