Strs Ohio Increases Stake in Old Dominion Freight Line, Inc. $ODFL

Strs Ohio lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 99,256 shares of the transportation company’s stock after purchasing an additional 4,102 shares during the period. Strs Ohio’s holdings in Old Dominion Freight Line were worth $13,973,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ODFL. Brighton Jones LLC increased its holdings in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares during the period. Empowered Funds LLC grew its position in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after acquiring an additional 5,866 shares during the last quarter. Farther Finance Advisors LLC grew its position in Old Dominion Freight Line by 32.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,338 shares of the transportation company’s stock worth $379,000 after acquiring an additional 576 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Old Dominion Freight Line by 210.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,920 shares of the transportation company’s stock worth $312,000 after purchasing an additional 1,302 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in Old Dominion Freight Line by 8.1% in the second quarter. Perigon Wealth Management LLC now owns 2,150 shares of the transportation company’s stock valued at $349,000 after purchasing an additional 161 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ODFL shares. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Barclays set a $165.00 price target on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Thursday, January 15th. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $181.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. UBS Group upped their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Citigroup reissued a “buy” rating and issued a $196.00 target price (up from $170.00) on shares of Old Dominion Freight Line in a research note on Wednesday, January 7th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Trading Down 2.2%

Shares of ODFL opened at $174.30 on Monday. The firm’s 50-day moving average price is $155.98 and its 200-day moving average price is $150.10. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 8.66 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. 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 released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 earnings per share. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS 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.