Stifel Nicolaus Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $193.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective hoisted by Stifel Nicolaus from $176.00 to $193.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

ODFL has been the topic of several other reports. The Goldman Sachs Group upped 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 report on Thursday, December 12th. Barclays decreased their target price on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $202.44.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $191.54 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $40.89 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 5.03 and a beta of 1.05. The business has a 50 day simple moving average of $196.75 and a 200 day simple moving average of $197.81. 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 issued 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. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the 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 directly owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 in the company, valued at approximately $1,664,423.52. This 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 owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares in the last quarter. International Assets Investment Management LLC grew its position in Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Franklin Resources Inc. grew its position in Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after acquiring an additional 437,700 shares during the last quarter. State Street Corp raised its stake in Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after acquiring an additional 279,946 shares in the last quarter. Finally, 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 worth $959,005,000 after acquiring an additional 275,236 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.