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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by analysts at Stifel Nicolaus from $176.00 to $193.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price target points to a potential upside of 1.19% from the company’s current price.

Other research analysts have also issued research reports about the company. Wells Fargo & Company dropped their target price on 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. TD Cowen dropped their price target on 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. Citigroup upped their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price target on shares of 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 equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $202.44.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded up $1.95 during trading hours on Thursday, hitting $190.74. 150,866 shares of the company’s stock traded hands, compared to its average volume of 1,207,794. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. The firm has a market capitalization of $40.72 billion, a P/E ratio of 33.31, a P/E/G ratio of 5.07 and a beta of 1.05. The business’s fifty day moving average price is $197.39 and its two-hundred day moving average price is $197.86.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for 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 firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’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 value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,400,490.00. Following the completion of 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 disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of ODFL. Avanza Fonder AB acquired a new stake in Old Dominion Freight Line in the fourth quarter worth approximately $3,741,000. Toronto Dominion Bank boosted its stake in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $600,000. Sequoia Financial Advisors LLC raised its position in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC lifted its holdings in Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.