Barclays Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $150.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by Barclays from $155.00 to $150.00 in a report published on Wednesday, Marketbeat reports. Barclays currently has an equal weight rating on the transportation company’s stock.

Several other research firms have also commented on ODFL. Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a research note on Tuesday, July 8th. Stifel Nicolaus decreased their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, UBS Group decreased their price target on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $166.52.

Old Dominion Freight Line Trading Up 0.5%

NASDAQ:ODFL opened at $141.33 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $29.70 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.19. Old Dominion Freight Line has a 52 week low of $133.69 and a 52 week high of $233.26. The firm has a 50-day moving average price of $147.58 and a two-hundred day moving average price of $156.65.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. On average, equities analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Stephens Inc. AR grew its stake in Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership grew its stake in Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after buying an additional 68 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company’s stock valued at $268,000 after buying an additional 71 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Old Dominion Freight Line by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after buying an additional 71 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its stake in Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after buying an additional 71 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.