Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,905 shares of the transportation company's stock after buying an additional 2,263 shares during the period. Occudo Quantitative Strategies LP's holdings in Old Dominion Freight Line were worth $2,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $494,916,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after buying an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $128,221,000. Raymond James Financial Inc. purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans raised its position in shares of 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 valued at $210,856,000 after purchasing an additional 573,586 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

ODFL traded up $1.35 during midday trading on Friday, hitting $171.28. 1,097,919 shares of the company traded hands, compared to its average volume of 1,678,417. The business has a 50 day simple moving average of $159.42 and a two-hundred day simple moving average of $183.93. 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 capitalization of $36.20 billion, a price-to-earnings ratio of 31.26, a PEG 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 (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results 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 net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $1.34 EPS. Old Dominion Freight Line's quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ODFL shares. UBS Group dropped their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a "buy" rating and a $236.00 price objective on the stock. Stephens reissued an "overweight" rating and set a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. Finally, StockNews.com downgraded Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $182.26.

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.