Conestoga Capital Advisors LLC Invests $255,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Conestoga Capital Advisors LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,544 shares of the transportation company’s stock, valued at approximately $255,000.

Other hedge funds have also added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $30,000. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $35,000. Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $51,000. Finally, CoreCap Advisors LLC grew its stake in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.5%

ODFL opened at $159.45 on Tuesday. The stock has a fifty day moving average of $159.76 and a 200-day moving average of $175.07. The company has a market capitalization of $33.70 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.89 and a beta of 1.26. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ODFL shares. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $176.50.

About Old Dominion Freight Line

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.