Mirae Asset Global Investments Co. Ltd. Has $11.44 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.5% in the third quarter, Holdings Channel reports. The firm owned 81,271 shares of the transportation company’s stock after purchasing an additional 7,709 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Old Dominion Freight Line were worth $11,441,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares during the period. Rossby Financial LCC bought a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. Chilton Capital Management LLC acquired a new position in Old Dominion Freight Line during the second quarter worth $47,000. Finally, Blue Trust Inc. lifted its holdings in shares of Old Dominion Freight Line by 65.5% during the second quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 163 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ODFL has been the topic of several analyst reports. Susquehanna reaffirmed a “neutral” rating and issued a $170.00 target price on shares of Old Dominion Freight Line in a report on Monday, January 5th. Evercore ISI set a $150.00 price target on shares of Old Dominion Freight Line and gave the company an “in-line” rating in a research report on Monday, January 12th. Raymond James Financial upped their price objective on shares of Old Dominion Freight Line from $155.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 6th. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Ten equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $163.33.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $173.20 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $209.61. The company has a market cap of $36.22 billion, a PE ratio of 34.85, a PEG ratio of 8.58 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $160.35 and its two-hundred day moving average is $150.53.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.