Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Given Average Rating of “Hold” by Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $202.44.

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus upped their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays decreased their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th.

Insiders Place Their Bets

In related news, Director Leo H. Suggs sold 3,000 shares of the business’s 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 sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % 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. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after purchasing an additional 78,587 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL stock opened at $185.84 on Thursday. The business’s 50-day moving average is $194.87 and its two-hundred day moving average is $198.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $39.68 billion, a P/E ratio of 32.49, a P/E/G ratio of 5.03 and a beta of 1.05. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26.

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.