IFP Advisors Inc Has $346,000 Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• IFP Advisors Inc significantly reduced its holdings in Old Dominion Freight Line, Inc. by 77.5% in Q2, now possessing 2,096 shares valued at $346,000.
• Old Dominion's quarterly earnings report revealed a miss on EPS expectations, with earnings of $1.27 compared to the consensus of $1.29, and a revenue decline of 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, translating to an annual yield of 0.8%, with a payout ratio of 21.88%.

IFP Advisors Inc reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 77.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,096 shares of the transportation company's stock after selling 7,234 shares during the period. IFP Advisors Inc's holdings in Old Dominion Freight Line were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after purchasing an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 worth $2,911,000 after purchasing an additional 1,529 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Old Dominion Freight Line by 4.9% during the first quarter. Janney Montgomery Scott LLC now owns 90,953 shares of the transportation company's stock worth $15,048,000 after buying an additional 4,252 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Old Dominion Freight Line by 4.0% during the first quarter. QRG Capital Management Inc. now owns 7,842 shares of the transportation company's stock worth $1,298,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Down 0.3%

ODFL stock opened at $135.04 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company has a market cap of $28.38 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 3.20 and a beta of 1.19. The business's 50-day simple moving average is $145.70 and its 200 day simple moving average is $155.14. 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 released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODFL shares. Susquehanna increased their price objective on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a report on Thursday, July 31st. Wolfe Research increased their price target on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. Finally, Jefferies Financial Group lowered their target price on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $163.86.

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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