Balyasny Asset Management L.P. Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Balyasny Asset Management L.P. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,742 shares of the transportation company's stock after selling 2,307 shares during the period. Balyasny Asset Management L.P.'s holdings in Old Dominion Freight Line were worth $836,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock worth $277,000 after buying an additional 55 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock worth $509,000 after purchasing an additional 55 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 59 shares during the last quarter. Lido Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ODFL. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Barclays decreased their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price objective on Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $182.26.

Old Dominion Freight Line Stock Up 0.8%

Shares of NASDAQ ODFL traded up $1.35 during mid-day trading on Friday, hitting $171.28. The company had a trading volume of 1,097,919 shares, compared to its average volume of 1,676,422. The company has a market capitalization of $36.20 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The business's 50-day simple moving average is $159.51 and its 200 day simple moving average is $183.58.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

About Old Dominion Freight Line

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.