Stifel Nicolaus Downgrades Old Dominion Freight Line (NASDAQ:ODFL) to Hold

Stifel Nicolaus cut shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat reports. They currently have $197.00 price target on the transportation company’s stock, down from their prior price target of $209.00.

ODFL has been the subject of a number of other research reports. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Citigroup assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective for the company. Raymond James upped their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, fourteen have assigned 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.com, the stock has an average rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Trading Up 1.7 %

NASDAQ ODFL opened at $191.81 on Monday. The company has a market capitalization of $41.68 billion, a PE ratio of 32.87, a P/E/G ratio of 4.20 and a beta of 0.99. The company has a fifty day moving average of $195.58 and a 200 day moving average of $190.85. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Research analysts forecast that Old Dominion Freight Line will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio is presently 17.82%.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in the company. Hunter Associates Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 24.9% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 11,499 shares of the transportation company’s stock valued at $2,284,000 after buying an additional 2,294 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $514,000. Valley National Advisers Inc. grew its stake in shares of Old Dominion Freight Line by 5,193.8% in the 3rd quarter. Valley National Advisers Inc. now owns 9,423 shares of the transportation company’s stock valued at $1,871,000 after buying an additional 9,245 shares during the period. PFG Investments LLC purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $381,000. Finally, Arkadios Wealth Advisors grew its stake in shares of Old Dominion Freight Line by 32.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 15,686 shares of the transportation company’s stock valued at $3,116,000 after buying an additional 3,879 shares during the period. Hedge funds and other institutional investors 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.