Bridge Creek Capital Management LLC Purchases Shares of 3,815 Old Dominion Freight Line, Inc. $ODFL

Key Points

• Bridge Creek Capital Management LLC has purchased 3,815 shares of Old Dominion Freight Line, valued at approximately $619,000, indicating institutional interest in the transportation company.
• Analysts have mixed views on Old Dominion Freight Line, with price targets ranging from $148.00 to $200.00 and a consensus rating of "Hold."
• The company reported earnings of $1.27 per share, missing analyst expectations, while its revenue declined 6.1% year-over-year, signaling potential financial challenges.

Bridge Creek Capital Management LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,815 shares of the transportation company's stock, valued at approximately $619,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after buying an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Old Dominion Freight Line by 9.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock valued at $2,911,000 after acquiring an additional 1,529 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Old Dominion Freight Line by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock valued at $1,507,000 after acquiring an additional 443 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Old Dominion Freight Line by 29.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock valued at $395,000 after acquiring an additional 537 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC raised its stake in Old Dominion Freight Line by 6.0% during the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock valued at $17,839,000 after acquiring an additional 6,133 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ODFL. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Susquehanna upped their target price on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Finally, Barclays set a $155.00 target price on Old Dominion Freight Line and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $166.95.

Old Dominion Freight Line Stock Up 0.6%

Shares of NASDAQ ODFL traded up $0.88 during mid-day trading on Tuesday, reaching $139.81. The company had a trading volume of 507,387 shares, compared to its average volume of 1,854,591. Old Dominion Freight Line, Inc. has a twelve month low of $138.65 and a twelve month high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $29.38 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 3.27 and a beta of 1.23. The stock's 50 day moving average is $151.88 and its 200-day moving average is $158.14.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates 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 was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

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.