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

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) had its price target hoisted by Jefferies Financial Group from $185.00 to $190.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 7.70% from the company’s current price.

Other research analysts have also issued research reports about the company. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Robert W. Baird lowered their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock 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 cut their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $203.33.

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Old Dominion Freight Line Stock Down 1.8 %

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Old Dominion Freight Line stock opened at $176.41 on Friday. 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 has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a fifty day simple moving average of $202.88 and a 200 day simple moving average of $197.40. The company has a market cap of $37.66 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Toronto Dominion Bank increased its holdings in Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Old Dominion Freight Line in the third quarter valued at approximately $2,109,000. Kinsale Capital Group Inc. raised its position in Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Old Dominion Freight Line during the third quarter worth $30,745,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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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.