Smart Money Group LLC Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Smart Money Group LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,991 shares of the transportation company’s stock after purchasing an additional 269 shares during the quarter. Smart Money Group LLC’s holdings in Old Dominion Freight Line were worth $528,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ODFL. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. lifted its position in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $64,000. Finally, Northwest Investment Counselors LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ODFL. Robert W. Baird decreased their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $201.50.

Old Dominion Freight Line Price Performance

ODFL stock opened at $189.55 on Monday. The stock has a market capitalization of $40.47 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 3.40 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock’s fifty day simple moving average is $199.69 and its 200-day simple moving average is $197.81.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.