Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its target price reduced by Barclays from $195.00 to $185.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the transportation company's stock.
ODFL has been the topic of a number of other reports. Truist Financial began coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective on the stock. The Goldman Sachs Group raised 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 Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Finally, Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $199.70.
View Our Latest Stock Report on Old Dominion Freight Line
Old Dominion Freight Line Price Performance
Shares of NASDAQ:ODFL traded down $3.69 during midday trading on Wednesday, reaching $152.06. The company's stock had a trading volume of 3,326,316 shares, compared to its average volume of 1,646,353. The business's fifty day simple moving average is $179.81 and its 200-day simple moving average is $192.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a fifty-two week low of $147.06 and a fifty-two week high of $233.26. The company has a market capitalization of $32.32 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is 18.98%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of ODFL. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at approximately $35,000. Itau Unibanco Holding S.A. raised its holdings in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 192 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $51,000. Finally, CoreCap Advisors LLC lifted its position in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after buying an additional 168 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.
Old Dominion Freight Line Company Profile
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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.
Further Reading
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