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

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by research analysts at Stifel Nicolaus from $176.00 to $193.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 1.15% from the stock’s current price.

ODFL has been the subject of a number of other research reports. The Goldman Sachs Group raised their price objective 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. Robert W. Baird reduced their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup boosted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. BMO Capital Markets dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen decreased their target price on shares of 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 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $202.44.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $190.81 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $40.74 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. The firm has a fifty day moving average price of $196.26 and a two-hundred day moving average price of $197.88. 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 released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the business’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 completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Avanza Fonder AB acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $3,741,000. Toronto Dominion Bank grew its holdings in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $600,000. Sequoia Financial Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares during the period. Finally, Reliant Investment Management LLC boosted its position in shares of 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 worth $3,854,000 after purchasing an additional 2,060 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.