Old Dominion Freight Line, Inc. (ODFL) Given New $127.00 Price Target at Buckingham Research

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) had its price objective boosted by equities research analysts at Buckingham Research from $105.00 to $127.00 in a research report issued on Friday, October 27th. The firm currently has a “neutral” rating on the transportation company’s stock. Buckingham Research’s price objective indicates a potential upside of 6.81% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus reiterated a “hold” rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub lowered Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Cowen and Company reiterated a “hold” rating and issued a $100.00 price target on shares of Old Dominion Freight Line in a research report on Friday, September 1st. Finally, Robert W. Baird reiterated a “hold” rating and issued a $113.00 price target on shares of Old Dominion Freight Line in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $108.23.

Old Dominion Freight Line (ODFL) opened at $118.90 on Friday. Old Dominion Freight Line has a fifty-two week low of $79.35 and a fifty-two week high of $124.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.29. The stock has a market capitalization of $9,811.80, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The business had revenue of $872.99 million during the quarter, compared to analysts’ expectations of $855.85 million. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts forecast that Old Dominion Freight Line will post 4.28 earnings per share for the current year.

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In other news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now directly owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 8.8% in the third quarter. JPMorgan Chase & Co. now owns 2,092,478 shares of the transportation company’s stock worth $227,557,000 after purchasing an additional 169,109 shares during the last quarter. Legal & General Group Plc increased its position in shares of Old Dominion Freight Line by 7.9% during the third quarter. Legal & General Group Plc now owns 81,145 shares of the transportation company’s stock valued at $8,933,000 after acquiring an additional 5,930 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 11.6% during the third quarter. Eagle Asset Management Inc. now owns 298,949 shares of the transportation company’s stock valued at $32,785,000 after acquiring an additional 31,036 shares during the last quarter. SPF Beheer BV increased its position in shares of Old Dominion Freight Line by 6.5% during the third quarter. SPF Beheer BV now owns 822,422 shares of the transportation company’s stock valued at $90,557,000 after acquiring an additional 49,878 shares during the last quarter. Finally, Granite Investment Partners LLC increased its position in shares of Old Dominion Freight Line by 4.4% during the third quarter. Granite Investment Partners LLC now owns 61,464 shares of the transportation company’s stock valued at $6,768,000 after acquiring an additional 2,576 shares during the last quarter. 74.00% of the stock is owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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