Susquehanna Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $224.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target boosted by research analysts at Susquehanna from $205.00 to $224.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential downside of 1.98% from the company’s previous close.

A number of other brokerages have also recently weighed in on ODFL. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Tuesday, April 28th. Wells Fargo & Company upped their target price on Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group set a $216.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $207.08.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $228.53 on Tuesday. The firm has a market capitalization of $47.53 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 4.61 and a beta of 1.17. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $233.79. The firm has a fifty day moving average of $205.73 and a 200 day moving average of $182.95.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.32 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC grew its position in Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after purchasing an additional 46 shares during the period. Private Advisor Group LLC raised its stake in Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after buying an additional 55 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after buying an additional 56 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after acquiring an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after acquiring an additional 60 shares during the last quarter. 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.