Barclays Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $185.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by Barclays from $195.00 to $185.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

A number of other equities analysts have also commented on ODFL. Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Bank of America reduced their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.70.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $152.06 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $179.81 and its two-hundred day moving average is $192.53. Old Dominion Freight Line has a 52 week low of $147.06 and a 52 week high of $233.26. The company has a market capitalization of $32.32 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently bought and sold shares of the stock. 111 Capital acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $380,000. Cim LLC raised its stake in shares of Old Dominion Freight Line by 2.6% in the fourth quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock worth $1,245,000 after purchasing an additional 182 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $39,633,000. Jefferies Financial Group Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $1,127,000. Finally, Challenger Wealth Management acquired a new position in Old Dominion Freight Line in the 4th quarter worth approximately $233,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.