Capital Investment Counsel Inc Acquires 6,152 Shares of Old Dominion Freight Line, Inc. $ODFL

Capital Investment Counsel Inc boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,302 shares of the transportation company’s stock after acquiring an additional 6,152 shares during the quarter. Capital Investment Counsel Inc’s holdings in Old Dominion Freight Line were worth $1,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BAM Wealth Management LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth approximately $622,000. PFG Investments LLC grew its stake in Old Dominion Freight Line by 8.1% in the 3rd quarter. PFG Investments LLC now owns 1,745 shares of the transportation company’s stock worth $246,000 after buying an additional 131 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Old Dominion Freight Line by 186.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,018 shares of the transportation company’s stock worth $8,027,000 after buying an additional 37,134 shares during the last quarter. Davidson Kahn Capital Management LLC increased its holdings in shares of Old Dominion Freight Line by 125.5% in the 3rd quarter. Davidson Kahn Capital Management LLC now owns 18,858 shares of the transportation company’s stock worth $2,655,000 after buying an additional 10,494 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Old Dominion Freight Line by 18.8% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 588 shares of the transportation company’s stock valued at $83,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ODFL. Deutsche Bank Aktiengesellschaft cut their target price on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, January 9th. Citigroup reiterated a “buy” rating and set a $196.00 price objective (up from $170.00) on shares of Old Dominion Freight Line in a research report on Wednesday, January 7th. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $172.00 to $170.00 in a research report on Monday, December 1st. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $163.33.

Old Dominion Freight Line Trading Down 2.2%

Shares of ODFL stock opened at $174.30 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day moving average of $155.98 and a 200 day moving average of $150.22. The stock has a market capitalization of $36.45 billion, a PE ratio of 35.07, a P/E/G ratio of 8.66 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.