Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective trimmed 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 research firms have also recently commented on ODFL. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Raymond James raised their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research note on Monday, April 15th. Susquehanna increased their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a report on Thursday, February 8th. Evercore ISI decreased their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating for the company in a report on Thursday. Finally, Stifel Nicolaus upped their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of Hold and a consensus price target of $210.97.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $182.42 on Thursday. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $220.06 and a 200-day moving average price of $206.32. The firm has a market cap of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates 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 research analysts expect that Old Dominion Freight Line will post 6.16 earnings per share for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.26 per share. 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 dividend payout ratio (DPR) is currently 18.31%.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. grew its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line in the 4th quarter worth about $29,000. Finally, Headinvest LLC bought a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $30,000. 77.82% of the stock is currently owned by hedge funds and other 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.