GQ Asset Management LLC acquired a new position in shares of Old Dominion Freight Line (NASDAQ:ODFL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 729 shares of the transportation company’s stock, valued at approximately $96,000.
Several other institutional investors also recently made changes to their positions in the company. Citizens Financial Group Inc RI lifted its stake in Old Dominion Freight Line by 64.6% during the first quarter. Citizens Financial Group Inc RI now owns 209 shares of the transportation company’s stock worth $27,000 after purchasing an additional 82 shares during the last quarter. Ballast Advisors LLC purchased a new stake in Old Dominion Freight Line during the first quarter worth approximately $30,000. Cordasco Financial Network lifted its stake in Old Dominion Freight Line by 49.7% during the first quarter. Cordasco Financial Network now owns 268 shares of the transportation company’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Guardian Life Insurance Co. of America purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $36,000. Finally, Cohen & Steers Inc. lifted its stake in Old Dominion Freight Line by 277.4% during the fourth quarter. Cohen & Steers Inc. now owns 200 shares of the transportation company’s stock worth $38,000 after purchasing an additional 147 shares during the last quarter. 57.39% of the stock is owned by institutional investors and hedge funds.
ODFL has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Old Dominion Freight Line from $145.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and boosted their target price for the stock from $102.00 to $103.33 in a research note on Friday, March 20th. Credit Suisse Group boosted their price objective on Old Dominion Freight Line from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. KeyCorp boosted their price objective on Old Dominion Freight Line from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Friday. Finally, BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $131.00.
NASDAQ:ODFL opened at $158.79 on Friday. The firm has a market cap of $18.39 billion, a P/E ratio of 30.47, a PEG ratio of 3.60 and a beta of 1.02. The stock’s 50 day simple moving average is $141.42 and its 200-day simple moving average is $180.06. Old Dominion Freight Line has a 12-month low of $87.25 and a 12-month high of $159.90.
Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). The company had revenue of $987.36 million during the quarter, compared to analyst estimates of $982.15 million. Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. On average, analysts expect that Old Dominion Freight Line will post 4.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Tuesday, June 2nd. Old Dominion Freight Line’s payout ratio is currently 11.94%.
Old Dominion Freight Line Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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