Two Sigma Advisers LP Reduces Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Two Sigma Advisers LP lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,900 shares of the transportation company's stock after selling 89,900 shares during the period. Two Sigma Advisers LP owned approximately 0.17% of Old Dominion Freight Line worth $63,310,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at $128,221,000. Blueshift Asset Management LLC purchased a new position in Old Dominion Freight Line in the fourth quarter worth about $630,000. Ameriprise Financial Inc. grew its stake in shares of Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after purchasing an additional 35,778 shares during the period. Reliant Investment Management LLC increased its position in shares of Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company's stock valued at $3,854,000 after purchasing an additional 2,060 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Old Dominion Freight Line by 10.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,370 shares of the transportation company's stock valued at $3,946,000 after purchasing an additional 2,053 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a research report on Thursday, April 24th. UBS Group decreased their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Susquehanna lowered their target price on Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $182.26.

Old Dominion Freight Line Stock Performance

ODFL opened at $171.61 on Tuesday. 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 stock has a market capitalization of $36.27 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.89 and a beta of 1.31. The company has a fifty day moving average of $159.65 and a 200 day moving average of $183.25. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business posted $1.34 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line 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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