Old Dominion Freight Line (NASDAQ:ODFL) Rating Lowered to Hold at Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Briefing.com reports. They presently have a $197.00 price target on the transportation company’s stock, down from their prior price target of $209.00. Stifel Nicolaus’ price target indicates a potential downside of 1.27% from the company’s previous close.

ODFL has been the subject of a number of other research reports. Evercore ISI reduced their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Raymond James increased their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Citigroup started coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, BMO Capital Markets lowered shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $214.00 to $210.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $199.44.

Old Dominion Freight Line Stock Down 1.0 %

NASDAQ:ODFL opened at $199.54 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $43.36 billion, a P/E ratio of 35.13, a P/E/G ratio of 4.24 and a beta of 0.99. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm has a 50-day simple moving average of $195.53 and a two-hundred day simple moving average of $191.37.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Old Dominion Freight Line by 138.3% in the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 83 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Old Dominion Freight Line by 206.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 144 shares of the transportation company’s stock worth $32,000 after purchasing an additional 97 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth $25,000. Finally, Atwood & Palmer Inc. boosted its holdings in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

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.