Teacher Retirement System of Texas Sells 5,645 Shares of Old Dominion Freight Line, Inc. $ODFL

Teacher Retirement System of Texas cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,932 shares of the transportation company’s stock after selling 5,645 shares during the quarter. Teacher Retirement System of Texas’ holdings in Old Dominion Freight Line were worth $3,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its holdings in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership boosted its stake in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after acquiring an additional 68 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Old Dominion Freight Line by 4.4% in the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares in the last quarter. Finally, STF Management LP lifted its holdings in shares of Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday. UBS Group lifted their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $173.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Barclays set a $165.00 price objective on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Stock Down 1.0%

ODFL opened at $172.72 on Thursday. The stock has a market capitalization of $36.12 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 8.67 and a beta of 1.27. The firm has a 50 day moving average price of $158.65 and a 200-day moving average price of $150.32. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. Equities research analysts forecast 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.