Peterson Wealth Services Sells 13,747 Shares of Old Dominion Freight Line, Inc. $ODFL

Peterson Wealth Services cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 89.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,658 shares of the transportation company’s stock after selling 13,747 shares during the period. Peterson Wealth Services’ holdings in Old Dominion Freight Line were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Financial Gravity Companies Inc. acquired a new position in Old Dominion Freight Line during the second quarter worth $26,000. Rossby Financial LCC bought a new stake in shares of Old Dominion Freight Line during the second quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares during the last quarter. Chilton Capital Management LLC bought a new position in Old Dominion Freight Line in the 2nd quarter valued at about $47,000. Finally, Blue Trust Inc. boosted its stake in Old Dominion Freight Line by 65.5% during the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 163 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL opened at $189.77 on Wednesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61. The firm has a 50-day moving average of $162.54 and a 200 day moving average of $150.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The firm 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.

Analysts Set New Price Targets

ODFL has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $172.00 to $170.00 in a report on Monday, December 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price objective 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. Finally, Wolfe Research set a $138.00 target price on shares of Old Dominion Freight Line in a report on Thursday, January 8th. Ten equities 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.