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

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

Other research analysts have also recently issued reports about the stock. Bank of America lowered their target price on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a report on Thursday. Raymond James lifted their price target on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a report on Monday, April 15th. Finally, UBS Group lifted their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Down 5.7 %

NASDAQ:ODFL traded down $11.12 on Thursday, hitting $185.54. 1,557,677 shares of the company’s stock were exchanged, compared to its average volume of 1,390,616. The company has a market cap of $40.39 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. The firm has a 50-day moving average price of $220.65 and a 200-day moving average price of $206.61. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. 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 (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, analysts expect that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, March 5th. 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 the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ODFL. Meridian Wealth Management LLC increased its position in shares of 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 worth $525,000 after purchasing an additional 696 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Old Dominion Freight Line by 106.9% during 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 during the third quarter valued at approximately $673,000. CX Institutional bought a new position in Old Dominion Freight Line during the third quarter valued at approximately $389,000. Finally, UMB Bank n.a. grew its position in Old Dominion Freight Line by 15.8% during 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. 77.82% of the stock is currently owned by institutional investors.

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.