Bridgefront Capital LLC Makes New $664,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bridgefront Capital LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,764 shares of the transportation company's stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ODFL. Franklin Resources Inc. lifted its stake in Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock worth $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Old Dominion Freight Line by 5.2% in the third quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company's stock worth $8,213,000 after buying an additional 2,044 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Old Dominion Freight Line by 26.9% in the 3rd quarter. Principal Financial Group Inc. now owns 421,140 shares of the transportation company's stock valued at $83,655,000 after acquiring an additional 89,395 shares during the last quarter. Versant Capital Management Inc boosted its holdings 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 acquiring an additional 110 shares during the period. Finally, GAMMA Investing LLC grew its position in Old Dominion Freight Line by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 2,091 shares of the transportation company's stock worth $369,000 after acquiring an additional 226 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 1.1 %

Shares of ODFL traded down $1.84 during mid-day trading on Friday, reaching $158.28. The company had a trading volume of 1,058,011 shares, compared to its average volume of 1,676,472. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $33.58 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The firm has a 50-day moving average price of $159.88 and a 200 day moving average price of $184.55. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The firm 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 quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on ODFL. Bank of America lowered their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. UBS Group lowered their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Barclays cut their price target on shares of 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 shares of Old Dominion Freight Line and gave the company an "underweight" rating in a research note on Thursday, April 24th. Finally, Susquehanna cut their target price on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.