Stifel Nicolaus Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $188.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective upped by equities research analysts at Stifel Nicolaus from $173.00 to $188.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 5.47% from the stock’s current price.

Several other research firms also recently commented on ODFL. UBS Group boosted their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Evercore ISI set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an “in-line” rating in a research report on Monday, January 12th. Robert W. Baird set a $170.00 price objective on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Finally, Zacks Research downgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Trading Down 0.1%

NASDAQ:ODFL opened at $178.25 on Wednesday. The firm has a market capitalization of $37.27 billion, a P/E ratio of 35.87, a PEG ratio of 8.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $209.61. The company’s 50-day simple moving average is $155.14 and its 200 day simple moving average is $150.27.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $1.43 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co. increased its holdings in Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after buying an additional 65 shares during the last quarter. Stephens Inc. AR grew its position in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after acquiring an additional 67 shares during the period. YANKCOM Partnership grew its position in shares of Old Dominion Freight Line by 9.1% during the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in shares of Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in Old Dominion Freight Line by 0.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.