Stifel Nicolaus Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

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

A number of other research firms also recently weighed in on ODFL. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on 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. Evercore ISI reduced their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Susquehanna reissued a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.44.

Old Dominion Freight Line Stock Up 1.0 %

Shares of NASDAQ ODFL traded up $1.95 during mid-day trading on Thursday, reaching $190.74. The company had a trading volume of 150,866 shares, compared to its average volume of 1,207,794. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. 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 company has a market capitalization of $40.72 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 5.07 and a beta of 1.05. The stock has a fifty day moving average of $197.39 and a two-hundred day moving average of $197.86.

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 for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % 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 Investors Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of ODFL. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after purchasing an additional 55 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Old Dominion Freight Line by 8.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 13,388 shares of the transportation company’s stock valued at $2,362,000 after acquiring an additional 1,044 shares in the last quarter. Bensler LLC grew its stake in Old Dominion Freight Line by 7.0% in the 4th quarter. Bensler LLC now owns 44,476 shares of the transportation company’s stock valued at $7,846,000 after purchasing an additional 2,923 shares during the period. Stonegate Investment Group LLC raised its stake in shares of Old Dominion Freight Line by 23.9% during the 4th quarter. Stonegate Investment Group LLC now owns 1,430 shares of the transportation company’s stock worth $252,000 after purchasing an additional 276 shares during the period. Finally, Perigon Wealth Management LLC raised its position in Old Dominion Freight Line by 18.1% in the fourth quarter. Perigon Wealth Management LLC now owns 1,938 shares of the transportation company’s stock worth $368,000 after acquiring an additional 297 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.