Stifel Nicolaus Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by analysts at Stifel Nicolaus from $176.00 to $193.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 1.15% from the company’s current price.

Several other research firms have also issued reports on ODFL. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective 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. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. Finally, BMO Capital Markets reduced their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $202.44.

Old Dominion Freight Line Stock Down 0.4 %

Shares of Old Dominion Freight Line stock opened at $190.81 on Thursday. The firm has a market cap of $40.74 billion, a PE ratio of 33.36, a P/E/G ratio of 5.03 and a beta of 1.05. The business’s 50 day simple moving average is $196.26 and its 200 day simple moving average is $197.88. 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 has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. On average, analysts predict that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leo H. Suggs sold 3,000 shares of the business’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 completion of the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $19,584,852.30. The trade was a 6.67 % 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the 3rd quarter valued at $45,000. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $41,000. Brown Brothers Harriman & Co. lifted its holdings in shares of 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 worth $53,000 after acquiring an additional 215 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $64,000. Finally, Northwest Investment Counselors LLC bought a new position in Old Dominion Freight Line during the 3rd quarter valued at about $67,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.