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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target cut by Barclays from $195.00 to $185.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

ODFL has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Citigroup dropped their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Evercore ISI lifted their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line Stock Up 1.8 %

ODFL stock opened at $170.10 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $36.15 billion, a PE ratio of 31.04, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line has a 1 year low of $157.67 and a 1 year high of $233.26. The company has a fifty day simple moving average of $181.30 and a 200 day simple moving average of $193.06.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of ODFL. Hantz Financial Services Inc. boosted its stake in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after buying an additional 55 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after acquiring an additional 55 shares during the period. Evergreen Private Wealth LLC boosted its stake in shares of Old Dominion Freight Line by 0.9% in the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 3.2% in the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in shares of Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.