Jacobs Levy Equity Management Inc. Has $117.94 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Jacobs Levy Equity Management Inc. reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 52.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,617 shares of the transportation company’s stock after selling 735,046 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Old Dominion Freight Line were worth $117,944,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Itau Unibanco Holding S.A. grew its position in Old Dominion Freight Line by 518.9% in 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 in the last quarter. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the 4th quarter worth about $51,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after buying an additional 168 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 1.1 %

ODFL stock opened at $158.28 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $144.90 and a 52 week high of $233.26. The company has a market capitalization of $33.45 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company’s 50-day simple moving average is $159.88 and its 200 day simple moving average is $184.52. 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 announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ODFL. Susquehanna lowered their target price on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus decreased their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Bank of America dropped their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Truist Financial decreased their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $183.37.

Old Dominion Freight Line Profile

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.