Old Dominion Freight Line (NASDAQ:ODFL) Given New $185.00 Price Target at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by Barclays from $195.00 to $185.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price target for the company. Susquehanna cut their target price on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Citigroup decreased their price target on 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. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Finally, Truist Financial initiated coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $199.70.

Old Dominion Freight Line Stock Up 1.8 %

Shares of Old Dominion Freight Line stock opened at $170.10 on Wednesday. Old Dominion Freight Line has a 1-year low of $157.67 and a 1-year high of $233.26. The company has a market capitalization of $36.15 billion, a PE ratio of 31.04, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day moving average of $181.30 and a 200-day moving average of $193.06.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Institutional Trading of Old Dominion Freight Line

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