Old Dominion Freight Line (NASDAQ:ODFL) PT Raised to $175.00 at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by research analysts at Bank of America from $172.00 to $175.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “underperform” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential downside of 4.82% from the company’s current price.

ODFL has been the subject of several other research reports. Morgan Stanley set a $146.00 target price on shares of Old Dominion Freight Line and gave the company a “hold” rating in a report on Friday, August 9th. ValuEngine cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Stephens set a $203.00 price objective on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research report on Friday, October 25th. KeyCorp reiterated an “overweight” rating on shares of Old Dominion Freight Line in a research note on Friday, October 25th. Finally, BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $168.46.

Shares of Old Dominion Freight Line stock opened at $183.86 on Wednesday. The company has a market capitalization of $15.29 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 3.02 and a beta of 1.51. The stock has a fifty day simple moving average of $188.44 and a 200 day simple moving average of $164.51. Old Dominion Freight Line has a 12-month low of $115.00 and a 12-month high of $197.25. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a net margin of 15.29% and a return on equity of 22.62%. Old Dominion Freight Line’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $2.12 earnings per share. On average, analysts predict that Old Dominion Freight Line will post 7.73 EPS for the current year.

In related news, Chairman Earl E. Congdon sold 23,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $181.94, for a total transaction of $4,275,590.00. Following the completion of the sale, the chairman now owns 10,854 shares in the company, valued at $1,974,776.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.90% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 0.5% in the second quarter. Vanguard Group Inc. now owns 6,543,803 shares of the transportation company’s stock valued at $976,728,000 after buying an additional 30,143 shares during the period. BlackRock Inc. lifted its holdings in Old Dominion Freight Line by 0.3% during the second quarter. BlackRock Inc. now owns 6,297,799 shares of the transportation company’s stock valued at $940,009,000 after purchasing an additional 21,585 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Old Dominion Freight Line by 5.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,812,633 shares of the transportation company’s stock valued at $569,076,000 after purchasing an additional 182,449 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Old Dominion Freight Line by 41.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,044,772 shares of the transportation company’s stock valued at $454,463,000 after purchasing an additional 893,099 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Old Dominion Freight Line by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 752,977 shares of the transportation company’s stock worth $112,389,000 after purchasing an additional 4,705 shares during the period. 75.35% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

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

Featured Story: What is the Moving Average Convergence Divergence (MACD) oscillator?

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.