Nordea Investment Management AB Acquires 912 Shares of Old Dominion Freight Line, Inc. $ODFL

Nordea Investment Management AB grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,071 shares of the transportation company’s stock after buying an additional 912 shares during the period. Nordea Investment Management AB’s holdings in Old Dominion Freight Line were worth $2,771,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Zions Bancorporation National Association UT bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Olde Wealth Management LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $43,000. Finally, WPG Advisers LLC bought a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $51,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.3%

Shares of NASDAQ ODFL opened at $141.02 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $29.64 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.41 and a beta of 1.19. The stock’s fifty day simple moving average is $145.03 and its two-hundred day simple moving average is $154.39. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.48 EPS. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial increased their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Susquehanna raised their price objective on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. Jefferies Financial Group reduced their price objective on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, October 9th. Finally, Raymond James Financial set a $160.00 price objective on Old Dominion Freight Line and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.86.

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.