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

by · The Cerbat Gem

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) had its price target increased by investment analysts at Stifel Nicolaus from $173.00 to $188.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 7.13% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Rothschild Redb raised shares of Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. Stephens restated an “overweight” rating and issued a $190.00 target price on shares of Old Dominion Freight Line in a research note on Tuesday, January 6th. Wall Street Zen lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley raised shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $165.00 to $190.00 in a research report on Monday, December 8th. Finally, Rothschild & Co Redburn initiated coverage on shares of Old Dominion Freight Line in a research note on Wednesday, November 26th. They issued a “sell” rating and a $114.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $163.33.

Read Our Latest Stock Analysis on Old Dominion Freight Line

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded up $5.49 during trading on Wednesday, reaching $175.49. 503,340 shares of the stock were exchanged, compared to its average volume of 1,906,406. The stock has a 50-day moving average price of $153.50 and a 200-day moving average price of $149.88. The firm has a market cap of $36.69 billion, a PE ratio of 35.28, a PEG ratio of 8.73 and a beta of 1.27. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $209.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 EPS. Research analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Norges Bank bought a new stake in Old Dominion Freight Line during the second quarter valued at about $371,961,000. Boston Partners bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $292,599,000. Two Sigma Investments LP raised its holdings in shares of Old Dominion Freight Line by 637.5% in the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after buying an additional 1,362,697 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after purchasing an additional 776,004 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after acquiring an additional 622,275 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

(Get Free Report)

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.

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