Old Dominion Freight Line, Inc. (NASDAQ:ODFL)‘s stock had its “hold” rating reaffirmed by stock analysts at Robert W. Baird in a research report issued to clients and investors on Friday. They currently have a $113.00 price target on the transportation company’s stock. Robert W. Baird’s price target points to a potential upside of 3.88% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on ODFL. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, July 11th. Credit Suisse Group AG restated an “outperform” rating and set a $109.00 target price (up from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $91.00 target price on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Finally, Deutsche Bank AG cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the stock from $108.00 to $98.00 in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $100.75.

Old Dominion Freight Line (ODFL) traded up 0.73% during midday trading on Friday, reaching $108.78. The company had a trading volume of 437,470 shares. The stock has a market cap of $8.96 billion, a P/E ratio of 28.17 and a beta of 1.09. Old Dominion Freight Line has a 12 month low of $68.82 and a 12 month high of $110.45. The firm has a 50-day moving average of $101.73 and a 200-day moving average of $93.52.

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

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In other news, Vice Chairman David S. Congdon sold 575 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the transaction, the insider now directly owns 9,516 shares in the company, valued at $930,950.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ODFL. UBS Asset Management Americas Inc. increased its holdings in shares of Old Dominion Freight Line by 14.2% during the first quarter. UBS Asset Management Americas Inc. now owns 43,125 shares of the transportation company’s stock worth $3,690,000 after buying an additional 5,351 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Old Dominion Freight Line by 8.7% during the first quarter. Parametric Portfolio Associates LLC now owns 90,502 shares of the transportation company’s stock worth $7,744,000 after buying an additional 7,242 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Old Dominion Freight Line by 0.3% during the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock worth $453,000 after buying an additional 14 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Old Dominion Freight Line by 2.1% during the first quarter. Neuberger Berman Group LLC now owns 149,652 shares of the transportation company’s stock worth $12,806,000 after buying an additional 3,039 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $641,000. Institutional investors 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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