Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 82.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,147 shares of the transportation company's stock after selling 14,871 shares during the period. Cresset Asset Management LLC's holdings in Old Dominion Freight Line were worth $555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Old Dominion Freight Line during the fourth quarter valued at about $494,916,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after buying an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after buying an additional 573,586 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. StockNews.com cut Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Evercore ISI dropped their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. Stephens reiterated an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Finally, Jefferies Financial Group dropped their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average target price of $182.26.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded up $1.35 during mid-day trading on Friday, reaching $171.28. The company had a trading volume of 1,097,919 shares, compared to its average volume of 1,676,422. The stock has a market capitalization of $36.20 billion, a P/E ratio of 31.26, a PEG ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock has a 50 day moving average of $159.51 and a two-hundred day moving average of $183.58. 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 (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Old Dominion Freight Line's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. On average, analysts expect 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.