4,419 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by BAM Wealth Management LLC

BAM Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,419 shares of the transportation company’s stock, valued at approximately $622,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Old Dominion Freight Line by 31.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock worth $35,685,000 after acquiring an additional 60,279 shares during the period. Ascent Group LLC grew its stake in Old Dominion Freight Line by 440.7% in the third quarter. Ascent Group LLC now owns 8,564 shares of the transportation company’s stock worth $1,206,000 after purchasing an additional 6,980 shares during the period. Vest Financial LLC raised its holdings in Old Dominion Freight Line by 66.8% in the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after purchasing an additional 68,410 shares in the last quarter. Bridges Investment Management Inc. lifted its position in Old Dominion Freight Line by 0.7% during the second quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company’s stock valued at $111,818,000 after buying an additional 4,849 shares during the period. Finally, Founders Financial Securities LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $908,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $174.30 on Friday. The firm has a market cap of $36.45 billion, a P/E ratio of 35.07, a PEG ratio of 8.86 and a beta of 1.27. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $155.98 and a 200 day moving average of $150.34.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Analyst Ratings Changes

ODFL has been the subject of several research reports. Citigroup reiterated a “buy” rating and issued a $196.00 price target (up from $170.00) on shares of Old Dominion Freight Line in a research note on Wednesday, January 7th. Cantor Fitzgerald set a $165.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, December 11th. Susquehanna reaffirmed a “neutral” rating and set a $170.00 price objective on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Finally, Rothschild & Co Redburn started coverage on Old Dominion Freight Line in a research note on Wednesday, November 26th. They set a “sell” rating and a $114.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $163.33.

About Old Dominion Freight Line

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.