Avanza Fonder AB Makes New $3.74 Million Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Avanza Fonder AB purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,205 shares of the transportation company’s stock, valued at approximately $3,741,000.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Brown Brothers Harriman & Co. boosted its stake in Old Dominion Freight Line by 398.1% during the 3rd 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 acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $64,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $67,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 0.2 %

NASDAQ ODFL opened at $189.55 on Friday. The stock has a market cap of $40.47 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 3.40 and a beta of 1.05. The firm’s 50 day moving average price is $199.69 and its two-hundred day moving average price is $197.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. TD Cowen lowered their target price on shares of 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. Susquehanna reiterated a “neutral” rating and issued a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Finally, Stifel Nicolaus dropped their target price on Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating on the stock in a report on Wednesday. One equities 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. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $201.50.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction 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 owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

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.