Old Dominion Freight Line (NASDAQ:ODFL – Free Report) had its price objective raised by Stifel Nicolaus from $176.00 to $193.00 in a report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company’s stock.
ODFL has been the subject of several other research reports. Susquehanna restated a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. BMO Capital Markets decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. TD Cowen cut their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Bank of America decreased their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. One research 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, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $202.44.
Read Our Latest Stock Report on ODFL
Old Dominion Freight Line Stock Down 0.4 %
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ODFL. Avanza Fonder AB purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $3,741,000. Toronto Dominion Bank increased its stake in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $600,000. Sequoia Financial Advisors LLC lifted its stake in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Reliant Investment Management LLC lifted its stake in Old Dominion Freight Line by 10.4% in the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after buying an additional 2,060 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.
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.
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