Stephens Reaffirms Overweight Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research report issued on Wednesday,Benzinga reports. They presently have a $240.00 price objective on the transportation company’s stock. Stephens’ price target points to a potential upside of 12.08% from the stock’s current price.

A number of other research analysts have also weighed in on ODFL. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. The Goldman Sachs Group lowered 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 research note on Wednesday, October 9th. Citigroup raised their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $209.00 to $197.00 in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $201.94.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $4.20 during mid-day trading on Wednesday, reaching $214.13. 325,986 shares of the company were exchanged, compared to its average volume of 1,524,528. The firm’s 50-day simple moving average is $207.67 and its two-hundred day simple moving average is $194.54. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The firm has a market cap of $45.72 billion, a PE ratio of 37.77, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.54 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line will post 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now 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 owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line in the second quarter worth about $25,000. LRI Investments LLC boosted its position in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the period. Cullen Frost Bankers Inc. increased its position in Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at $45,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.