Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 186.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,018 shares of the transportation company’s stock after purchasing an additional 37,134 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Old Dominion Freight Line were worth $8,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock valued at $3,693,663,000 after buying an additional 91,842 shares during the period. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 20.3% during the second quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after acquiring an additional 492,563 shares during the period. Norges Bank purchased a new position in Old Dominion Freight Line in the second quarter worth $371,961,000. Lazard Asset Management LLC lifted its holdings in Old Dominion Freight Line by 11.6% in the second quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after acquiring an additional 200,681 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Old Dominion Freight Line by 9.7% in the second quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after acquiring an additional 137,068 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.2%

Shares of NASDAQ ODFL opened at $174.30 on Friday. The firm’s 50-day moving average is $155.98 and its two-hundred day moving average is $150.34. The company has a market capitalization of $36.45 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 8.86 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ODFL. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, January 8th. Bank of America upped their target price on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. 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. Finally, Cantor Fitzgerald set a $165.00 price target on Old Dominion Freight Line in a report on Thursday, December 18th. Ten research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.33.

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.