Wells Fargo & Company Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $185.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by Wells Fargo & Company from $195.00 to $185.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 3.02% from the company’s current price.

ODFL has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Barclays lifted their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $204.12.

Old Dominion Freight Line Trading Down 0.6 %

ODFL stock opened at $179.58 on Tuesday. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $203.81 and its 200-day moving average is $197.37. The firm has a market cap of $38.34 billion, a P/E ratio of 31.40, a P/E/G ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly 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. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 earnings per share. Equities analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ODFL. Nordea Investment Management AB lifted its position in Old Dominion Freight Line by 1.4% in the 4th quarter. Nordea Investment Management AB now owns 15,629 shares of the transportation company’s stock valued at $2,788,000 after acquiring an additional 213 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Old Dominion Freight Line by 4.9% in the 4th quarter. Central Pacific Bank Trust Division now owns 3,858 shares of the transportation company’s stock valued at $681,000 after purchasing an additional 179 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Old Dominion Freight Line by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 2,091 shares of the transportation company’s stock valued at $369,000 after purchasing an additional 226 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Old Dominion Freight Line by 26.9% during the third quarter. Principal Financial Group Inc. now owns 421,140 shares of the transportation company’s stock worth $83,655,000 after buying an additional 89,395 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.