Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $170.00 by Analysts at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by Barclays from $185.00 to $170.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the transportation company’s stock.

A number of other equities analysts have also recently commented on ODFL. Stephens reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday. Jefferies Financial Group lowered their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Truist Financial reduced their price target on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus dropped their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $182.95.

Old Dominion Freight Line Price Performance

ODFL opened at $146.74 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $31.13 billion, a P/E ratio of 26.78, a PEG ratio of 2.89 and a beta of 1.25. The stock has a 50-day moving average price of $165.37 and a 200-day moving average price of $187.61. Old Dominion Freight Line has a 12-month low of $144.90 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.76%. Old Dominion Freight Line’s dividend payout ratio is 21.01%.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its position in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after acquiring an additional 55 shares during the period. D.A. Davidson & CO. increased its stake in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares in the last quarter. Evergreen Private Wealth LLC lifted its holdings in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock valued at $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Institutional investors 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.