7,976 Shares of Old Dominion Freight Line, Inc. $ODFL Acquired by Westwind Capital

Key Points

• Westwind Capital acquired 7,976 shares of Old Dominion Freight Line during the third quarter, valued at approximately $1.39 million. Institutional investors collectively own 77.82% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating from 26 analysts and an average price target of $223.48. Recent target changes ranged from $202 to $250.
• Old Dominion reported quarterly EPS of $1.68, beating estimates of $1.54, while revenue rose 10.4% year over year to $1.55 billion. The company also maintains a quarterly dividend of $0.29, yielding approximately 0.6%.

Westwind Capital purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,976 shares of the transportation company's stock, valued at approximately $1,387,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Solstein Capital LLC acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $26,000. EFG International AG purchased a new position in Old Dominion Freight Line during the 2nd quarter worth $29,000. Transamerica Financial Advisors LLC acquired a new position in Old Dominion Freight Line during the 2nd quarter valued at about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock valued at $27,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several recent analyst reports. Zacks Research downgraded shares of Old Dominion Freight Line from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $231.00 to $223.00 in a research report on Tuesday, September 8th. Susquehanna cut their price target on shares of Old Dominion Freight Line from $232.00 to $202.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Wells Fargo & Company raised shares of Old Dominion Freight Line from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $235.00 to $250.00 in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $250.00 to $232.00 and set a "neutral" rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $223.48.

Old Dominion Freight Line Trading Up 3.4%

NASDAQ ODFL traded up $6.04 on Thursday, hitting $181.65. 1,564,705 shares of the company's stock traded hands, compared to its average volume of 2,009,517. The firm has a market capitalization of $37.67 billion, a PE ratio of 35.00, a P/E/G ratio of 2.98 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03. The firm's 50-day moving average price is $192.78 and its two-hundred day moving average price is $207.88.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.79 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, September 2nd. Old Dominion Freight Line's dividend payout ratio is currently 22.35%.

Insider Activity at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president directly owned 22,746 shares of the company's stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is owned by insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.

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