Old Dominion Freight Line (NASDAQ:ODFL) Raised to Buy at Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat Ratings reports. The firm presently has a $200.00 price target on the transportation company’s stock, up from their prior price target of $193.00. Stifel Nicolaus’ target price would indicate a potential upside of 11.19% from the company’s previous close.

Several other equities analysts also recently weighed in on ODFL. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Stephens reissued an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. StockNews.com raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays cut their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $179.88 on Monday. The stock has a fifty day simple moving average of $188.24 and a 200-day simple moving average of $197.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $38.40 billion, a PE ratio of 32.82, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current 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 ODFL. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. grew its holdings in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock valued at $255,390,000 after purchasing an additional 1,361,397 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $128,221,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $114,449,000. 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.