Old Dominion Freight Line (NASDAQ:ODFL) Given New $210.00 Price Target at Barclays

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by investment analysts at Barclays from $220.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Barclays‘s price target points to a potential upside of 10.72% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus decreased their price objective 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. Evercore ISI decreased their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group raised their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Bank of America decreased their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Robert W. Baird lowered their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $201.50.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $0.25 on Friday, hitting $189.68. 411,002 shares of the company’s stock were exchanged, compared to its average volume of 1,178,694. 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 firm’s 50-day moving average price is $200.42 and its two-hundred day moving average price is $197.52. The firm has a market cap of $40.50 billion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 3.40 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during 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%. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 earnings per share. On average, research analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The shares were 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 $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. 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

A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in shares of Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after buying an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Old Dominion Freight Line during the third quarter worth approximately $2,109,000. Kinsale Capital Group Inc. increased its position in shares of Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after acquiring an additional 3,614 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $30,745,000. Hedge funds and other institutional investors 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.