Old Dominion Freight Line (NASDAQ:ODFL) Given New $190.00 Price Target at Jefferies Financial Group

Old Dominion Freight Line (NASDAQ:ODFL) had its target price raised by research analysts at Jefferies Financial Group from $185.00 to $190.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 8.22% from the company’s previous close.

A number of other research firms have also recently issued reports on ODFL. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. TD Cowen decreased their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Down 2.2 %

Shares of ODFL traded down $4.01 during mid-day trading on Friday, hitting $175.57. The company’s stock had a trading volume of 297,231 shares, compared to its average volume of 1,061,045. The company’s 50-day moving average is $203.37 and its 200-day moving average is $197.24. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a market capitalization of $37.48 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 4.21 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently made changes to their positions in ODFL. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $92,697,000. Renaissance Technologies LLC acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $82,398,000. Finally, Franklin Resources Inc. increased its position in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.