Old Dominion Freight Line (NASDAQ:ODFL) Upgraded by Stifel Nicolaus to Buy Rating

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $200.00 price objective on the transportation company’s stock, up from their previous price objective of $193.00. Stifel Nicolaus’ price target suggests a potential upside of 10.86% from the stock’s current price.

A number of other equities analysts have also commented on ODFL. Jefferies Financial Group raised their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Bank of America dropped their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays decreased their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $203.72.

Old Dominion Freight Line Trading Down 8.5 %

ODFL opened at $180.40 on Monday. 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 current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.89 and a beta of 1.05. The company’s 50 day moving average price is $188.96 and its two-hundred day moving average price is $197.84.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, research analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently made changes to their positions in ODFL. State Street Corp increased its stake in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Geode Capital Management LLC grew its position in Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock valued at $870,311,000 after acquiring an additional 96,410 shares during the period. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $494,916,000. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock worth $442,784,000 after buying an additional 27,367 shares during the period. Finally, Northern Trust Corp boosted its holdings in Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after purchasing an additional 261,305 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.