Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $210.00 at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by analysts at Barclays from $220.00 to $210.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price objective would suggest a potential upside of 10.72% from the company’s previous close.

A number of other research firms have also issued reports on ODFL. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $201.50.

Old Dominion Freight Line Stock Down 0.1 %

Old Dominion Freight Line stock traded down $0.25 during trading hours on Friday, reaching $189.68. The stock had a trading volume of 411,002 shares, compared to its average volume of 1,178,694. The company has a market cap of $40.50 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 3.40 and a beta of 1.05. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. 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’s 50 day moving average price is $200.42 and its 200-day moving average price is $197.52.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of ODFL. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at $25,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. Quarry LP acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $60,000. Finally, Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

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.