Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $186.00 to $205.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 0.99% from the company's current price.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating and cut their price objective for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Argus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Barclays raised their price target 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. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research report on Thursday, October 3rd. Finally, Bank of America dropped their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and a consensus target price of $202.88.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock traded up $0.03 during trading hours on Friday, hitting $203.00. 1,313,113 shares of the company were exchanged, compared to its average volume of 1,238,251. 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 has a 50-day moving average of $208.18 and a 200-day moving average of $194.88. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The stock has a market capitalization of $43.34 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 4.41 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. As a group, analysts expect that Old Dominion Freight Line will post 5.43 EPS for the current fiscal year.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction dated Monday, October 28th. The stock was 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 in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm'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 transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently made changes to their positions in the business. SevenBridge Financial Group LLC increased its holdings in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after purchasing an additional 50 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company's stock valued at $1,611,000 after buying an additional 54 shares during the period. Advisors Asset Management Inc. raised its holdings 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 valued at $2,163,000 after buying an additional 55 shares during the period. Hantz Financial Services Inc. lifted its position in Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company's stock worth $301,000 after acquiring an additional 56 shares in the last quarter. Finally, Conning Inc. boosted its holdings in Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company's stock worth $206,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds 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.