Accent Capital Management LLC Makes New $405,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Accent Capital Management LLC purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,000 shares of the transportation company’s stock, valued at approximately $405,000.

A number of other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Old Dominion Freight Line by 3.1% in the third quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after buying an additional 29 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Old Dominion Freight Line by 14.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock valued at $96,000 after buying an additional 30 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Old Dominion Freight Line by 1.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 30 shares in the last quarter. Finally, Drive Wealth Management LLC increased its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock worth $316,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ODFL. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target on the stock in a report on Wednesday, May 8th. Finally, Susquehanna decreased their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $204.97.

View Our Latest Research Report on Old Dominion Freight Line

Old Dominion Freight Line Stock Up 0.7 %

Old Dominion Freight Line stock traded up $1.18 during midday trading on Monday, reaching $173.92. The company’s stock had a trading volume of 1,664,548 shares, compared to its average volume of 1,582,356. The stock’s 50-day simple moving average is $187.65 and its 200-day simple moving average is $201.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line, Inc. has a 52-week low of $158.60 and a 52-week high of $227.80. The stock has a market capitalization of $37.79 billion, a P/E ratio of 30.62, a PEG ratio of 2.23 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 6.01 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Old Dominion Freight Line Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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