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

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

A number of other analysts have also recently commented on the company. The Goldman Sachs Group boosted their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. cut 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. Susquehanna boosted their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research report on Thursday, February 8th. Raymond James boosted their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research report on Monday, April 15th. Finally, UBS Group boosted their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Stock Down 5.7 %

Shares of ODFL traded down $11.12 during midday trading on Thursday, reaching $185.54. 1,557,677 shares of the stock were exchanged, compared to its average volume of 1,390,616. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The company’s 50 day moving average is $220.65 and its two-hundred day moving average is $206.61. The company has a market capitalization of $40.39 billion, a P/E ratio of 32.32, a PEG ratio of 2.80 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. On average, sell-side analysts anticipate that Old Dominion Freight Line will post 6.35 earnings per share for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of the 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 transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its stake in shares of Old Dominion Freight Line by 0.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after purchasing an additional 92 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Old Dominion Freight Line by 14.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after purchasing an additional 2,335 shares during the period. Czech National Bank grew its position in Old Dominion Freight Line by 47.1% during the third quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock valued at $6,408,000 after acquiring an additional 5,017 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Old Dominion Freight Line during the third quarter valued at about $783,000. Finally, Pittenger & Anderson Inc. grew its position in Old Dominion Freight Line by 617.3% during the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after acquiring an additional 5,445 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.