Susquehanna Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by stock analysts at Susquehanna from $232.00 to $202.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price would suggest a potential upside of 13.42% from the company’s current price.

Several other research firms have also recently weighed in on ODFL. Zacks Research cut Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $234.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Truist Financial boosted their target price on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. UBS Group restated a “neutral” rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $226.35.

Old Dominion Freight Line Stock Up 2.5%

NASDAQ ODFL opened at $178.10 on Friday. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 2.92 and a beta of 1.20. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03. The business’s fifty day moving average is $196.69 and its 200 day moving average is $208.00.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. On average, research analysts anticipate that Old Dominion Freight Line will post 5.78 earnings per share for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares in the company, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of ODFL. Bell Investment Advisors Inc acquired a new position in Old Dominion Freight Line in the second quarter valued at $25,000. Solstein Capital LLC acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $26,000. EFG International AG bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $29,000. Transamerica Financial Advisors LLC bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 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 is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.