Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Short Interest Update

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 15,108,424 shares, an increase of 36.0% from the January 15th total of 11,109,972 shares. Based on an average daily volume of 1,912,407 shares, the days-to-cover ratio is presently 7.9 days. Currently, 8.0% of the shares of the company are sold short. Currently, 8.0% of the shares of the company are sold short. Based on an average daily volume of 1,912,407 shares, the days-to-cover ratio is presently 7.9 days.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. purchased a new position in Old Dominion Freight Line in the second quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. lifted its position in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after buying an additional 98 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $28,000. Finally, DT Investment Partners LLC grew its stake in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after buying an additional 180 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 4.2%

Shares of NASDAQ:ODFL traded up $7.70 during mid-day trading on Monday, reaching $193.21. The stock had a trading volume of 2,096,801 shares, compared to its average volume of 2,652,707. The business’s 50 day moving average price is $171.99 and its 200 day moving average price is $152.97. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $209.61. The company has a market cap of $40.40 billion, a P/E ratio of 40.00, a price-to-earnings-growth ratio of 9.65 and a beta of 1.28.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 23.19%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $150.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Bank of America set a $165.00 price objective on Old Dominion Freight Line in a research note on Thursday, December 18th. Evercore increased their target price on Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Truist Financial set a $225.00 target price on Old Dominion Freight Line in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.88.

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.