Old Dominion Freight Line (NASDAQ:ODFL) Given New $188.00 Price Target at Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by Stifel Nicolaus from $173.00 to $188.00 in a research note published on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

Several other research firms have also recently weighed in on ODFL. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $181.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Rothschild & Co Redburn initiated coverage on shares of Old Dominion Freight Line in a research note on Wednesday, November 26th. They set a “sell” rating and a $114.00 price target on the stock. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Citigroup reiterated a “buy” rating and issued a $196.00 price objective (up from $170.00) on shares of Old Dominion Freight Line in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Stock Up 4.9%

NASDAQ ODFL opened at $178.40 on Wednesday. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $209.61. The stock has a market cap of $37.30 billion, a PE ratio of 35.90, a PEG ratio of 8.45 and a beta of 1.27. The firm has a 50-day simple moving average of $154.29 and a 200 day simple moving average of $150.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, research analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently added to or reduced their stakes in ODFL. Assenagon Asset Management S.A. boosted its holdings in Old Dominion Freight Line by 31.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock valued at $35,685,000 after purchasing an additional 60,279 shares during the period. Ascent Group LLC raised its position in shares of Old Dominion Freight Line by 440.7% in the third quarter. Ascent Group LLC now owns 8,564 shares of the transportation company’s stock valued at $1,206,000 after buying an additional 6,980 shares in the last quarter. Vest Financial LLC boosted its stake in shares of Old Dominion Freight Line by 66.8% in the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock valued at $27,727,000 after buying an additional 68,410 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of Old Dominion Freight Line by 0.7% in the second quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company’s stock valued at $111,818,000 after buying an additional 4,849 shares during the period. Finally, Founders Financial Securities LLC acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $908,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.