Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $205.00 at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by Barclays from $210.00 to $205.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

ODFL has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a report on Thursday, February 8th. Bank of America dropped their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating for the company in a report on Thursday. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday. Raymond James upped their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a neutral rating for the company in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $182.42 on Thursday. The stock has a market capitalization of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 2.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The business has a fifty day moving average price of $220.06 and a two-hundred day moving average price of $206.37. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities analysts predict that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. increased its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $29,000. Finally, Headinvest LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at about $30,000. Institutional investors and hedge funds 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.