Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $176.00 by Analysts at Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by Stifel Nicolaus from $178.00 to $176.00 in a research note issued to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company’s stock.

Several other equities analysts have also issued reports on the company. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays increased their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on shares of 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 analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $201.50.

Old Dominion Freight Line Stock Down 0.2 %

ODFL stock opened at $189.55 on Wednesday. The company’s 50 day moving average price is $199.69 and its 200 day moving average price is $197.59. The firm has a market capitalization of $40.47 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 3.40 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated 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 directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line during the second quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. Quarry LP acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $60,000. Finally, Versant Capital Management Inc raised its position in 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 acquiring an additional 110 shares during 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.