Stifel Nicolaus Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $168.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by Stifel Nicolaus from $183.00 to $168.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 18.43% from the company’s current price.

Several other brokerages have also commented on ODFL. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. UBS Group decreased their price target on Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday. Stephens decreased their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday. Baird R W raised Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Finally, Bank of America upped their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $168.38.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $141.85 on Thursday. The stock’s fifty day moving average is $162.22 and its two-hundred day moving average is $168.73. The firm has a market capitalization of $29.98 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 3.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.32 and a current ratio of 1.38. Old Dominion Freight Line has a fifty-two week low of $141.73 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. On average, research analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently bought and sold shares of ODFL. T. Rowe Price Investment Management Inc. increased its holdings in Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the period. Nuveen LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter worth about $151,107,000. JPMorgan Chase & Co. increased its holdings in Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. GAMMA Investing LLC increased its holdings in Old Dominion Freight Line by 24,499.9% during the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company’s stock worth $85,105,000 after purchasing an additional 512,293 shares during the period. Finally, Menora Mivtachim Holdings LTD. purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $79,380,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.