Stifel Nicolaus Issues Pessimistic Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by analysts at Stifel Nicolaus from $178.00 to $176.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 7.33% from the company’s previous close.

ODFL has been the topic of a number of other reports. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. TD Cowen cut their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $202.06.

Old Dominion Freight Line Stock Up 1.6 %

ODFL opened at $189.92 on Wednesday. The stock has a market cap of $40.55 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 3.40 and a beta of 1.05. 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 firm’s fifty day moving average is $201.08 and its 200 day moving average is $197.57. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The business 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 business’s revenue 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. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s 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 transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently bought and sold shares of ODFL. SevenBridge Financial Group LLC increased its stake in Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after purchasing an additional 50 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. increased its stake in 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 worth $301,000 after buying an additional 56 shares during the period. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.0% during the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after buying an additional 71 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in 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 valued at $78,000 after buying an additional 75 shares in the last quarter. Hedge funds and other 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.