Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $190.00 at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by Barclays from $195.00 to $190.00 in a report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. BMO Capital Markets lowered Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $214.00 to $210.00 in a research report on Friday, October 18th. TD Cowen decreased their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Raymond James increased their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Trading Up 1.8 %

Shares of Old Dominion Freight Line stock traded up $3.45 during mid-day trading on Thursday, hitting $195.26. The stock had a trading volume of 185,938 shares, compared to its average volume of 1,544,703. The firm has a 50-day moving average of $195.58 and a two-hundred day moving average of $190.85. The firm has a market cap of $42.43 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts forecast that Old Dominion Freight Line will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 17.82%.

Insider Activity

In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. 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 purchasing an additional 62 shares during the period. Atwood & Palmer Inc. increased its holdings in shares of Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.