Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by Stifel Nicolaus from $176.00 to $193.00 in a report issued on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lifted 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 report on Friday, December 6th. TD Cowen dropped their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.44.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $190.81 on Thursday. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The company’s 50 day simple moving average is $196.26 and its 200 day simple moving average is $198.02. The company has a market capitalization of $40.74 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 5.03 and a beta of 1.05. 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 posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. On average, sell-side analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’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 transaction, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, 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. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently modified their holdings of ODFL. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at about $45,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Brown Brothers Harriman & Co. raised its position in shares of Old Dominion Freight Line by 398.1% during 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Old Dominion Freight Line during the third quarter worth $64,000. Finally, Northwest Investment Counselors LLC acquired a new position in Old Dominion Freight Line in the third quarter worth $67,000. 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.