Evercore ISI Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by analysts at Evercore ISI from $199.00 to $202.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective would suggest a potential upside of 2.58% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Barclays cut their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded up $3.26 on Thursday, reaching $196.91. The stock had a trading volume of 574,177 shares, compared to its average volume of 1,429,210. The business’s 50-day moving average price is $191.21 and its 200 day moving average price is $197.70. The stock has a market cap of $42.04 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. As a group, equities analysts expect that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently bought and sold shares of the business. SevenBridge Financial Group LLC boosted its holdings in shares of Old Dominion Freight Line by 2.0% during the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after purchasing an additional 50 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after buying an additional 55 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in shares of Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after acquiring an additional 62 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.