Susquehanna Reaffirms “Neutral” Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “neutral” rating restated by Susquehanna in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $195.00 price target on the transportation company’s stock. Susquehanna’s price target would indicate a potential upside of 6.75% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. TD Cowen dropped their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ:ODFL opened at $182.67 on Tuesday. 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 has a 52-week low of $165.49 and a 52-week high of $233.26. The business’s 50 day simple moving average is $204.71 and its two-hundred day simple moving average is $197.45. The firm has a market cap of $39.00 billion, a P/E ratio of 31.94, a PEG ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. As a group, research analysts forecast that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

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 shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 transaction, the director now directly owns 7,383 shares in the company, valued at approximately $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 owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after purchasing an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $92,697,000. Renaissance Technologies LLC purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $82,398,000. Finally, Franklin Resources Inc. boosted its position in Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after buying an additional 437,700 shares during the period. 77.82% of the stock is currently 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.