2,880 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC acquired 2,880 shares of Old Dominion Freight Line, Inc. for approximately $467,000 in the second quarter.
• Research analysts have mixed reviews on Old Dominion Freight Line, with a consensus rating of "Hold" and a price target averaging $163.86.
• Old Dominion Freight Line recently reported a quarterly earnings miss, with a net margin of 19.42% and a revenue decrease of 6.1% compared to the previous year.

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,880 shares of the transportation company's stock, valued at approximately $467,000.

Several other hedge funds have also recently modified their holdings of ODFL. Larson Financial Group LLC lifted its holdings in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the period. Wayfinding Financial LLC purchased a new position in Old Dominion Freight Line in the first quarter worth $39,000. Zions Bancorporation National Association UT purchased a new position in Old Dominion Freight Line in the first quarter worth $39,000. Olde Wealth Management LLC purchased a new position in Old Dominion Freight Line in the first quarter worth $43,000. Finally, WPG Advisers LLC purchased a new position in Old Dominion Freight Line in the first quarter worth $51,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ODFL shares. Raymond James Financial set a $160.00 price objective on Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Tuesday. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set a "neutral" rating for the company in a research report on Wednesday, October 8th. Jefferies Financial Group cut their price objective on Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, October 9th. Finally, Morgan Stanley cut their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $163.86.

Old Dominion Freight Line Trading Up 2.3%

Shares of ODFL stock opened at $138.10 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The stock has a market cap of $29.02 billion, a P/E ratio of 26.97, a P/E/G ratio of 3.19 and a beta of 1.19. The business has a fifty day simple moving average of $145.55 and a 200-day simple moving average of $154.95. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

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.

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