Old Dominion Freight Line (NASDAQ:ODFL) Lowered to “Hold” at Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $197.00 price target on the transportation company’s stock, down from their previous price target of $209.00. Stifel Nicolaus’ target price would suggest a potential downside of 1.28% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. BMO Capital Markets cut shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $214.00 to $210.00 in a research note on Friday, October 18th. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Citigroup started coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $199.44.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $199.55 on Monday. The firm’s fifty day moving average price is $195.68 and its two-hundred day moving average price is $191.03. The stock has a market cap of $43.36 billion, a PE ratio of 35.13, a PEG ratio of 4.24 and a beta of 0.99. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, equities analysts expect that Old Dominion Freight Line will post 5.59 EPS for the current fiscal year.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. boosted its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Atwood & Palmer Inc. boosted its position in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Washington Trust Advisors Inc. boosted its position in Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after purchasing an additional 83 shares during the period. Finally, Versant Capital Management Inc boosted its position in Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares during the period. 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.