Stephens Reiterates “Overweight” Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “overweight” rating restated by stock analysts at Stephens in a report released on Wednesday,Benzinga reports. They currently have a $240.00 price objective on the transportation company’s stock. Stephens’ price target indicates a potential upside of 12.08% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Susquehanna dropped their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets cut their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $201.94.

Old Dominion Freight Line Stock Down 1.9 %

Shares of Old Dominion Freight Line stock traded down $4.20 during midday trading on Wednesday, hitting $214.13. The company’s stock had a trading volume of 325,986 shares, compared to its average volume of 1,524,528. The firm has a market capitalization of $45.72 billion, a P/E ratio of 37.77, a PEG ratio of 4.70 and a beta of 1.00. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $207.67 and a 200-day simple moving average of $194.54.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction 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 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. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its holdings 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 buying 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 worth approximately $2,109,000. Kinsale Capital Group Inc. grew its stake in Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after acquiring an additional 3,614 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $30,745,000. Finally, Truist Financial Corp raised its position in shares of Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares during the period. 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.