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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target reduced by Barclays from $210.00 to $205.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other equities research analysts have also recently issued reports on ODFL. JPMorgan Chase & Co. decreased their target price 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. Bank of America cut their price target on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating for the company in a report on Thursday. Susquehanna upped their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research note on Thursday, February 8th. Evercore ISI cut their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating for the company in a research note on Thursday. Finally, Stifel Nicolaus upped their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the company 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $210.97.

Old Dominion Freight Line Trading Down 7.2 %

NASDAQ:ODFL opened at $182.42 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The stock’s 50-day moving average is $220.06 and its two-hundred day moving average is $206.37. The stock 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 announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations 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 forecast that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insider Transactions at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the 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 owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several large investors have recently made changes to their positions in ODFL. Meridian Wealth Management LLC boosted its holdings in Old Dominion Freight Line by 118.4% in the third quarter. Meridian Wealth Management LLC now owns 1,284 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 696 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Old Dominion Freight Line by 106.9% in the third quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the transportation company’s stock valued at $1,057,000 after acquiring an additional 1,335 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Old Dominion Freight Line in the third quarter valued at about $673,000. CX Institutional bought a new position in Old Dominion Freight Line in the third quarter valued at about $389,000. Finally, UMB Bank n.a. boosted its holdings in Old Dominion Freight Line by 15.8% in the third quarter. UMB Bank n.a. now owns 242 shares of the transportation company’s stock valued at $99,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

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.