Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $165.00 at Jefferies Financial Group

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price objective trimmed by Jefferies Financial Group from $195.00 to $165.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the transportation company's stock.

ODFL has been the topic of several other reports. Evercore ISI boosted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research report on Thursday, February 6th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Barclays cut their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus price target of $195.15.

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Old Dominion Freight Line Stock Performance

ODFL traded up $1.36 on Wednesday, hitting $153.59. 474,573 shares of the company traded hands, compared to its average volume of 1,671,899. Old Dominion Freight Line has a 12-month low of $145.79 and a 12-month high of $233.26. The company has a 50 day moving average of $175.40 and a 200-day moving average of $190.44. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $32.64 billion, a PE ratio of 28.03, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.73%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently bought and sold shares of the stock. American National Bank & Trust bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter worth approximately $35,000. Itau Unibanco Holding S.A. lifted its position in 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 worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the 4th quarter valued at $41,000. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $51,000. Institutional investors and hedge funds own 77.82% of the company's stock.

About Old Dominion Freight Line

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.