Oppenheimer & Co. Inc. Increases Holdings in Old Dominion Freight Line, Inc. $ODFL

Oppenheimer & Co. Inc. boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 167.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,870 shares of the transportation company’s stock after purchasing an additional 4,298 shares during the period. Oppenheimer & Co. Inc.’s holdings in Old Dominion Freight Line were worth $1,077,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake 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 worth $27,000 after acquiring an additional 123 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Old Dominion Freight Line during the third quarter valued at approximately $37,000. Torren Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $41,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Old Dominion Freight Line in the fourth quarter worth approximately $50,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 2.3%

Shares of Old Dominion Freight Line stock opened at $200.62 on Thursday. The firm has a market cap of $41.79 billion, a PE ratio of 41.97, a P/E/G ratio of 4.01 and a beta of 1.17. The business has a 50-day moving average price of $201.03 and a 200 day moving average price of $174.26. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ODFL. BMO Capital Markets lifted their target price on shares of Old Dominion Freight Line from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $206.46.

Insider Buying and Selling

In other news, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director owned 11,278 shares of the company’s stock, valued at $2,190,977.06. This represents a 21.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares in the company, valued at approximately $138,832,056. This represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 102,241 shares of company stock worth $19,874,065. 10.00% of the stock is owned by corporate insiders.

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.