Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $150.00 at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by Barclays from $155.00 to $150.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an equal weight rating on the transportation company’s stock.

Several other equities research analysts have also commented on ODFL. TD Cowen dropped their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Raymond James Financial dropped their price target on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 8th. Finally, Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $166.10.

Old Dominion Freight Line Price Performance

ODFL opened at $139.24 on Wednesday. The firm has a market cap of $29.26 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 3.27 and a beta of 1.19. Old Dominion Freight Line has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The company’s 50-day moving average price is $148.64 and its 200 day moving average price is $156.97. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business posted $1.48 EPS. Old Dominion Freight Line’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently added to or reduced their stakes in ODFL. Brighton Jones LLC boosted its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Old Dominion Freight Line by 4.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company’s stock worth $268,000 after buying an additional 71 shares in the last quarter. Merit Financial Group LLC boosted its stake in Old Dominion Freight Line by 23.9% in the 1st quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company’s stock worth $319,000 after purchasing an additional 372 shares during the period. Retireful LLC acquired a new position in Old Dominion Freight Line in the 1st quarter worth approximately $339,000. Finally, Impact Capital Partners LLC boosted its stake in Old Dominion Freight Line by 16.1% in the 1st quarter. Impact Capital Partners LLC now owns 2,566 shares of the transportation company’s stock worth $425,000 after purchasing an additional 355 shares during the period. 77.82% of the stock is currently owned by 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.