Stifel Nicolaus Reaffirms “Hold” Rating for Old Dominion Freight Line (ODFL)
Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “hold” rating restated by equities researchers at Stifel Nicolaus in a research note issued to investors on Thursday. They presently have a $134.00 price objective on the transportation company’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 8.14% from the stock’s current price.
Several other research firms also recently weighed in on ODFL. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Saturday, January 6th. Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Deutsche Bank downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating and decreased their price objective for the company from $119.00 to $101.00 in a report on Monday, December 4th. ValuEngine downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Credit Suisse Group restated a “buy” rating and issued a $142.00 price objective (up from $128.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $116.92.
Shares of Old Dominion Freight Line (ODFL) traded up $1.28 on Thursday, hitting $145.88. 472,522 shares of the stock were exchanged, compared to its average volume of 580,292. The stock has a market capitalization of $12,020.00, a price-to-earnings ratio of 35.93 and a beta of 1.20. Old Dominion Freight Line has a 1 year low of $80.56 and a 1 year high of $146.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.44.
A number of institutional investors have recently made changes to their positions in ODFL. Eagle Asset Management raised its holdings in Old Dominion Freight Line by 160.6% in the third quarter. Eagle Asset Management now owns 437,676 shares of the transportation company’s stock worth $26,698,000 after purchasing an additional 269,725 shares in the last quarter. ICON Advisers bought a new position in Old Dominion Freight Line in the third quarter worth about $2,623,000. Swarthmore Group bought a new position in Old Dominion Freight Line in the fourth quarter worth about $17,090,000. Cim LLC raised its holdings in Old Dominion Freight Line by 1.4% in the fourth quarter. Cim LLC now owns 6,964 shares of the transportation company’s stock worth $411,000 after purchasing an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Old Dominion Freight Line by 2.2% in the fourth quarter. Retirement Systems of Alabama now owns 259,883 shares of the transportation company’s stock worth $15,351,000 after purchasing an additional 5,588 shares in the last quarter. Institutional investors and hedge funds own 72.40% of the company’s stock.
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About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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