Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) had its price objective lowered by stock analysts at Stifel Nicolaus from $178.00 to $176.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the transportation company’s stock. Stifel Nicolaus’ price target points to a potential downside of 6.12% from the company’s current price.
Several other equities research analysts have also recently issued reports on ODFL. Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $202.17.
Read Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Trading Up 2.1 %
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.
Insider Buying and Selling at Old Dominion Freight Line
In related news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of ODFL. SevenBridge Financial Group LLC lifted its holdings in Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after purchasing an additional 56 shares during the period. Brighton Jones LLC grew its stake in Old Dominion Freight Line by 5.0% during the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after buying an additional 71 shares during the last quarter. Finally, CVA Family Office LLC increased its position in Old Dominion Freight Line by 23.5% in the third quarter. CVA Family Office LLC now owns 394 shares of the transportation company’s stock worth $78,000 after buying an additional 75 shares during the period. 77.82% 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 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.
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