Woodline Partners LP Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Woodline Partners LP increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 163.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,716 shares of the transportation company's stock after purchasing an additional 76,103 shares during the quarter. Woodline Partners LP owned 0.06% of Old Dominion Freight Line worth $21,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $35,000. Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $41,000. Murphy & Mullick Capital Management Corp purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $51,000. Finally, CoreCap Advisors LLC raised its position in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ODFL. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Stephens restated an "overweight" rating and issued a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Barclays reduced their target price on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $182.26.

Old Dominion Freight Line Trading Down 1.2%

NASDAQ:ODFL opened at $169.60 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $159.78 and its two-hundred day moving average is $183.15. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a market cap of $35.84 billion, a PE ratio of 30.95, a P/E/G ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted $1.34 EPS. The business's revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

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.

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