Barclays Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $195.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by Barclays from $210.00 to $195.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

A number of other research analysts have also recently weighed in on ODFL. Bank of America reduced their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price target for the company from $193.00 to $200.00 in a research report on Monday, February 24th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Citigroup lowered their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $201.74.

Old Dominion Freight Line Price Performance

ODFL opened at $164.54 on Monday. The company’s 50 day simple moving average is $186.67 and its 200 day simple moving average is $195.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 1 year low of $164.06 and a 1 year high of $233.26. The stock has a market capitalization of $34.97 billion, a PE ratio of 30.03, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its 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 net margin of 20.40% and a return on equity of 28.02%. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $35,000. Itau Unibanco Holding S.A. lifted its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line during the third quarter valued at about $45,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $51,000. 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.