Atlantic Union Bankshares Corp Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

Atlantic Union Bankshares Corp acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,197 shares of the transportation company’s stock, valued at approximately $1,999,000.

A number of other institutional investors also recently made changes to their positions in the business. Financial Gravity Companies Inc. bought a new stake in Old Dominion Freight Line in the second quarter worth $26,000. Rossby Financial LCC bought a new position in shares of Old Dominion Freight Line during the second quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after buying an additional 123 shares during the period. Chilton Capital Management LLC purchased a new position in shares of Old Dominion Freight Line in the second quarter worth about $47,000. Finally, Blue Trust Inc. lifted its stake in shares of Old Dominion Freight Line by 65.5% in the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 2.0%

Shares of Old Dominion Freight Line stock opened at $189.77 on Wednesday. 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 12-month low of $126.01 and a 12-month high of $209.61. The company has a market cap of $39.68 billion, a P/E ratio of 38.18, a PEG ratio of 9.25 and a beta of 1.28. The company’s fifty day simple moving average is $162.54 and its two-hundred day simple moving average is $150.74.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ODFL shares. Jefferies Financial Group raised their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 19th. Susquehanna reissued a “neutral” rating and set a $170.00 price objective on shares of Old Dominion Freight Line in a research note on Monday, January 5th. Stifel Nicolaus raised their target price on shares of Old Dominion Freight Line from $173.00 to $188.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. The Goldman Sachs Group lifted their target price on shares of Old Dominion Freight Line from $181.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Ten equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $163.33.

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.