Nissay Asset Management Corp Japan ADV Boosts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Nissay Asset Management Corp Japan ADV increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,344 shares of the transportation company's stock after acquiring an additional 2,249 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Old Dominion Freight Line were worth $8,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Norges Bank bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $494,916,000. T. Rowe Price Investment Management Inc. boosted its stake in Old Dominion Freight Line by 1,575.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $128,221,000. Raymond James Financial Inc. bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans boosted its stake in Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after purchasing an additional 573,586 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Jefferies Financial Group lowered their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Barclays lowered their target price on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI lowered their target price on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $182.26.

Old Dominion Freight Line Stock Up 0.2%

Shares of Old Dominion Freight Line stock traded up $0.33 during trading on Monday, hitting $171.61. 2,107,141 shares of the stock traded hands, compared to its average volume of 1,678,144. The firm has a market cap of $36.27 billion, a P/E ratio of 31.32, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock's fifty day simple moving average is $159.51 and its 200 day simple moving average is $183.45.

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