Thoroughbred Financial Services LLC Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Thoroughbred Financial Services LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 36.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,386 shares of the transportation company's stock after buying an additional 1,699 shares during the quarter. Thoroughbred Financial Services LLC's holdings in Old Dominion Freight Line were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Larson Financial Group LLC increased its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares during the period. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $30,000. Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares during the period. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line in the first quarter worth $39,000. Finally, Olde Wealth Management LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at $43,000. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ODFL shares. TD Cowen cut their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Stephens dropped their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Raymond James Financial decreased their price objective on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their target price for the company from $190.00 to $200.00 in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded down $0.87 during trading hours on Friday, hitting $144.46. The stock had a trading volume of 1,440,285 shares, compared to its average volume of 2,003,047. Old Dominion Freight Line, Inc. has a 12 month low of $141.73 and a 12 month high of $233.26. The stock has a fifty day moving average price of $160.64 and a 200 day moving average price of $167.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32. The firm has a market capitalization of $30.36 billion, a PE ratio of 28.21, a PEG ratio of 3.35 and a beta of 1.24.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during 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%. During the same period in the previous year, the business posted $1.48 EPS. The business's quarterly revenue was down 6.1% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued 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 is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 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.