Stifel Nicolaus Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $176.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective dropped by equities researchers at Stifel Nicolaus from $178.00 to $176.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 6.12% from the stock’s current price.

A number of other research firms have also commented on ODFL. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Barclays lifted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price target 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. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, 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. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $202.17.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded up $3.86 during midday trading on Wednesday, hitting $187.48. 509,167 shares of the company’s stock were exchanged, compared to its average volume of 1,115,192. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The firm has a market cap of $40.03 billion, a P/E ratio of 32.78, a PEG ratio of 4.21 and a beta of 1.05. The stock’s 50 day moving average price is $201.95 and its 200-day moving average price is $197.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

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

Insiders Place Their Bets

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 of the company’s stock, 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 SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value 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. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC raised its holdings in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after acquiring an additional 55 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after purchasing an additional 56 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after purchasing an additional 71 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Old Dominion Freight Line by 23.5% during the 3rd quarter. CVA Family Office LLC now owns 394 shares of the transportation company’s stock worth $78,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

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.