Boothbay Fund Management LLC Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Boothbay Fund Management LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 123.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,527 shares of the transportation company's stock after acquiring an additional 1,952 shares during the period. Boothbay Fund Management LLC's holdings in Old Dominion Freight Line were worth $622,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the fourth quarter worth approximately $51,000. Versant Capital Management Inc increased its position in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after purchasing an additional 110 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $69,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $2.76 during mid-day trading on Tuesday, reaching $153.47. The stock had a trading volume of 164,480 shares, compared to its average volume of 1,677,234. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business's fifty day moving average is $161.30 and its 200-day moving average is $185.52. The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion during 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 firm's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. Old Dominion Freight Line's payout ratio is 21.01%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ODFL shares. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a "buy" rating and a $236.00 price target for the company. Jefferies Financial Group cut their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the company an "underweight" rating in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price target on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, StockNews.com downgraded shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $183.37.

Old Dominion Freight Line 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.