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

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price dropped by equities researchers at Barclays from $220.00 to $210.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the transportation company's stock. Barclays's price target would indicate a potential upside of 10.79% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Citigroup raised their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Stephens reiterated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research report on Friday, January 10th. Finally, Stifel Nicolaus cut their price target on shares of Old Dominion Freight Line from $178.00 to $176.00 and set a "hold" rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $201.50.

Old Dominion Freight Line Trading Down 0.2 %

ODFL traded down $0.37 during midday trading on Friday, hitting $189.55. The company's stock had a trading volume of 1,306,990 shares, compared to its average volume of 1,229,604. The firm has a 50-day moving average price of $199.69 and a two-hundred day moving average price of $197.59. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $40.47 billion, a P/E ratio of 33.14, a PEG ratio of 3.40 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Insider Buying and Selling

In other 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 value of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after acquiring an additional 750,073 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock valued at $136,130,000 after acquiring an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $92,697,000. Franklin Resources Inc. lifted its position in Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock valued at $207,068,000 after acquiring an additional 437,700 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its stake in Old Dominion Freight Line by 136.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company's stock valued at $108,657,000 after purchasing an additional 354,588 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.