Stifel Nicolaus Lowers Old Dominion Freight Line (NASDAQ:ODFL) to Hold

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Monday, Briefing.com reports. They presently have a $197.00 price target on the transportation company’s stock, down from their previous price target of $209.00. Stifel Nicolaus’ target price suggests a potential downside of 1.27% from the stock’s current price.

Several other research firms have also weighed in on ODFL. Evercore ISI decreased their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Robert W. Baird increased their target price on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Citigroup began coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective on the stock. Finally, Susquehanna raised their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $199.44.

Old Dominion Freight Line Price Performance

ODFL stock opened at $199.54 on Monday. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. The firm has a market capitalization of $43.36 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a fifty day simple moving average of $195.53 and a two-hundred day simple moving average of $191.37. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC grew its stake in Old Dominion Freight Line by 97.9% in the first quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock valued at $457,000 after purchasing an additional 1,030 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line by 97.6% in the 1st quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock valued at $750,000 after buying an additional 1,698 shares in the last quarter. Salem Investment Counselors Inc. grew its position in shares of Old Dominion Freight Line by 51.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 200 shares of the transportation company’s stock worth $44,000 after buying an additional 68 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Old Dominion Freight Line by 111.7% during the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock worth $358,000 after acquiring an additional 862 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in Old Dominion Freight Line by 94.1% during the first quarter. AdvisorNet Financial Inc now owns 1,710 shares of the transportation company’s stock valued at $375,000 after acquiring an additional 829 shares during the last quarter. 77.82% of the stock is owned by 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.