Old Dominion Freight Line (NASDAQ:ODFL) Given New $224.00 Price Target at UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by UBS Group from $216.00 to $224.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. UBS Group’s target price suggests a potential upside of 3.49% from the stock’s current price.

A number of other analysts have also issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Barclays raised their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Citigroup cut Old Dominion Freight Line from a “neutral” rating to a “sell” rating and increased their target price for the company from $225.00 to $228.00 in a research note on Monday, June 15th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday. Nine analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.35.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $216.44 on Tuesday. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $252.03. The firm has a market cap of $45.01 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 4.36 and a beta of 1.18. The stock has a 50-day simple moving average of $218.42 and a 200-day simple moving average of $198.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts predict that Old Dominion Freight Line will post 5.44 EPS for the current year.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Old Dominion Freight Line by 38.7% during the second quarter. Versant Capital Management Inc now owns 1,273 shares of the transportation company’s stock worth $276,000 after purchasing an additional 355 shares during the period. Ballast Advisors LLC purchased a new position in Old Dominion Freight Line during the 1st quarter worth approximately $78,000. Parallel Advisors LLC raised its position in Old Dominion Freight Line by 5.3% during the first quarter. Parallel Advisors LLC now owns 2,500 shares of the transportation company’s stock valued at $489,000 after buying an additional 125 shares during the period. NewEdge Advisors LLC grew its position in Old Dominion Freight Line by 8.7% during the first quarter. NewEdge Advisors LLC now owns 5,895 shares of the transportation company’s stock valued at $1,152,000 after purchasing an additional 470 shares in the last quarter. Finally, First Nebraska Trust Co purchased a new position in Old Dominion Freight Line in the first quarter valued at about $379,000. 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.