Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Cut by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,257 shares of the transportation company's stock after selling 4,402 shares during the quarter. Logan Capital Management Inc.'s holdings in Old Dominion Freight Line were worth $16,980,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. Itau Unibanco Holding S.A. increased its stake in 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 worth $40,000 after acquiring an additional 192 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth about $41,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $51,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Old Dominion Freight Line by 98.2% in the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock valued at $60,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays cut their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. Finally, Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $183.37.

Old Dominion Freight Line Stock Down 1.0%

Shares of NASDAQ:ODFL traded down $1.72 during midday trading on Thursday, reaching $169.93. The company had a trading volume of 1,652,432 shares, compared to its average volume of 1,681,723. The stock has a market capitalization of $35.91 billion, a P/E ratio of 31.01, a PEG ratio of 2.89 and a beta of 1.31. The stock's fifty day moving average price is $159.58 and its 200-day moving average price is $184.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The company's revenue was down 5.8% on a year-over-year basis. Equities research analysts expect 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.