Raiffeisen Bank International AG Acquires Shares of 2,259 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,259 shares of the transportation company's stock, valued at approximately $400,000.

Several other large investors have also recently modified their holdings of the stock. Park Avenue Securities LLC boosted its position in shares of Old Dominion Freight Line by 11.9% during the fourth quarter. Park Avenue Securities LLC now owns 4,714 shares of the transportation company's stock valued at $832,000 after buying an additional 501 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 19,058 shares of the transportation company's stock worth $3,362,000 after acquiring an additional 161 shares during the last quarter. Avanza Fonder AB purchased a new position in Old Dominion Freight Line during the 4th quarter valued at $3,741,000. Merit Financial Group LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at $275,000. Finally, Brooklyn Investment Group increased its stake in Old Dominion Freight Line by 7.9% in the fourth quarter. Brooklyn Investment Group now owns 1,255 shares of the transportation company's stock worth $221,000 after purchasing an additional 92 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $5.41 on Wednesday, reaching $164.19. 2,048,818 shares of the company's stock traded hands, compared to its average volume of 1,677,385. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 2.89 and a beta of 1.31. The stock has a 50 day moving average price of $159.78 and a 200-day moving average price of $183.15.

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 for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the business earned $1.34 earnings per share. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stephens reissued an "overweight" rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. Truist Financial decreased their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group lowered their target price on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a "buy" rating and a $236.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $182.26.

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.