Old Dominion Freight Line (NASDAQ:ODFL) Lifted to “Hold” at Stifel Nicolaus


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Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by stock analysts at Stifel Nicolaus from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Briefing.com reports. The firm currently has a $194.00 price target on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 3.46% from the stock’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Old Dominion Freight Line from $192.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Evercore ISI assumed coverage on Old Dominion Freight Line in a research note on Friday, December 4th. They issued an “outperform” rating and a $235.00 target price on the stock. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $209.00 target price on the stock. in a research note on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft increased their target price on Old Dominion Freight Line from $202.00 to $212.00 and gave the stock a “hold” rating in a research note on Monday, November 30th. Finally, Bank of America increased their target price on Old Dominion Freight Line from $155.00 to $174.00 and gave the stock an “underperform” rating in a research note on Thursday, October 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $203.14.

Shares of ODFL opened at $200.96 on Thursday. The company has a market cap of $23.58 billion, a PE ratio of 38.13, a P/E/G ratio of 2.31 and a beta of 1.04. The business has a fifty day moving average of $200.46 and a 200 day moving average of $193.34. Old Dominion Freight Line has a 52-week low of $105.80 and a 52-week high of $213.66. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.20. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Old Dominion Freight Line had a return on equity of 20.47% and a net margin of 15.87%. Old Dominion Freight Line’s revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.58 earnings per share for the current fiscal year.

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 4,500 shares of the firm’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $200.00, for a total value of $900,000.00. Following the completion of the sale, the director now owns 6,227 shares of the company’s stock, valued at $1,245,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 11.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Park Avenue Securities LLC lifted its stake in shares of Old Dominion Freight Line by 3.2% during the third quarter. Park Avenue Securities LLC now owns 1,746 shares of the transportation company’s stock worth $316,000 after purchasing an additional 54 shares in the last quarter. CI Investments Inc. lifted its position in Old Dominion Freight Line by 3.2% in the third quarter. CI Investments Inc. now owns 1,760 shares of the transportation company’s stock worth $318,000 after purchasing an additional 54 shares during the period. IFP Advisors Inc lifted its position in Old Dominion Freight Line by 24.2% in the third quarter. IFP Advisors Inc now owns 287 shares of the transportation company’s stock worth $53,000 after purchasing an additional 56 shares during the period. Cerebellum GP LLC lifted its position in Old Dominion Freight Line by 21.4% in the third quarter. Cerebellum GP LLC now owns 352 shares of the transportation company’s stock worth $64,000 after purchasing an additional 62 shares during the period. Finally, Berman Capital Advisors LLC lifted its position in Old Dominion Freight Line by 61.9% in the third quarter. Berman Capital Advisors LLC now owns 191 shares of the transportation company’s stock worth $34,000 after purchasing an additional 73 shares during the period. 69.32% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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