Old Dominion Freight Line (NASDAQ:ODFL) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Robert W. Baird currently has $205.00 target price on the transportation company’s stock.

Other research analysts also recently issued reports about the stock. Susquehanna upped their price target on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a report on Thursday, February 8th. Stifel Nicolaus raised their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a report on Wednesday, January 10th. UBS Group boosted their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Barclays dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating for the company in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of Hold and an average price target of $209.08.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $181.70 on Wednesday. The company has a 50 day moving average of $214.69 and a 200-day moving average of $205.15. The company has a market cap of $39.55 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.94 and a beta of 1.07. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities research analysts forecast that Old Dominion Freight Line will post 6.04 earnings per share for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of Old Dominion Freight Line by 47.6% in the third quarter. Mackenzie Financial Corp now owns 34,475 shares of the transportation company’s stock valued at $13,786,000 after purchasing an additional 11,123 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Old Dominion Freight Line by 8.1% during the 3rd quarter. Brighton Jones LLC now owns 692 shares of the transportation company’s stock worth $283,000 after buying an additional 52 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 18.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,086 shares of the transportation company’s stock worth $45,041,000 after buying an additional 17,193 shares during the last quarter. Advisor Partners II LLC boosted its stake in shares of Old Dominion Freight Line by 4.0% in the 3rd quarter. Advisor Partners II LLC now owns 5,566 shares of the transportation company’s stock worth $2,277,000 after buying an additional 214 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $1,371,000. Institutional investors own 77.82% of the company’s stock.

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.