NorthRock Partners LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

NorthRock Partners LLC bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,585 shares of the transportation company's stock, valued at approximately $456,000.

Other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $35,000. 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 worth $40,000 after purchasing an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $41,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $51,000. Finally, CoreCap Advisors LLC increased its stake in shares of Old Dominion Freight Line by 98.2% during the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after purchasing an additional 168 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 1.2%

Shares of ODFL stock traded down $2.01 during trading on Tuesday, hitting $169.60. 1,886,549 shares of the stock traded hands, compared to its average volume of 1,678,976. The firm's fifty day moving average price is $159.65 and its 200-day moving average price is $183.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $35.84 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 earnings per share. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ODFL. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Jefferies Financial Group decreased their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. Truist Financial decreased their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna decreased 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 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $182.26.

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.