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

Old Dominion Freight Line (NASDAQ:ODFLFree Report) had its price target trimmed by Barclays from $220.00 to $210.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

A number of other equities analysts have also issued reports on ODFL. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Evercore ISI decreased their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Stifel Nicolaus dropped 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 research report on Wednesday, January 15th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $201.50.

View Our Latest Research Report on Old Dominion Freight Line

Old Dominion Freight Line Trading Down 0.2 %

NASDAQ:ODFL opened at $189.55 on Friday. The firm has a market capitalization of $40.47 billion, a P/E ratio of 33.14, a P/E/G ratio of 3.40 and a beta of 1.05. The business has a 50 day simple moving average of $199.69 and a 200 day simple moving average of $197.81. 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 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $3,741,000. Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $600,000. Sequoia Financial Advisors LLC lifted its holdings in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Old Dominion Freight Line during the third quarter worth approximately $2,109,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Company Profile

(Get Free Report)

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

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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