Bank of America Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by Bank of America from $223.00 to $205.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 12.38% from the stock’s previous close.

Other equities analysts have also issued reports about the company. UBS Group boosted their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Evercore ISI lowered their price target on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, Barclays lowered their price objective on Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.97.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a twelve month low of $147.90 and a twelve month high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. The stock has a market capitalization of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 3.07 and a beta of 1.02. The stock has a 50-day simple moving average of $220.06 and a 200 day simple moving average of $206.41.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Research analysts anticipate that Old Dominion Freight Line will post 6.16 EPS for the current year.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ODFL. Meridian Wealth Management LLC lifted its stake in shares of Old Dominion Freight Line by 118.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,284 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 696 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Old Dominion Freight Line by 106.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the transportation company’s stock valued at $1,057,000 after purchasing an additional 1,335 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $673,000. CX Institutional bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $389,000. Finally, UMB Bank n.a. increased its position in shares of Old Dominion Freight Line by 15.8% in the 3rd quarter. UMB Bank n.a. now owns 242 shares of the transportation company’s stock valued at $99,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.