Bridges Investment Counsel Inc. purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the transportation company’s stock, valued at approximately $286,000.
Several other large investors have also recently added to or reduced their stakes in ODFL. SRS Capital Advisors Inc. raised its stake in Old Dominion Freight Line by 18.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Old Dominion Freight Line by 115.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock valued at $115,000 after buying an additional 647 shares in the last quarter. IFP Advisors Inc raised its stake in Old Dominion Freight Line by 1.9% in the first quarter. IFP Advisors Inc now owns 1,839 shares of the transportation company’s stock valued at $157,000 after buying an additional 34 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Old Dominion Freight Line during the first quarter valued at $166,000. Finally, Atria Investments LLC raised its stake in Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock valued at $237,000 after buying an additional 69 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.
Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded up 0.7934% on Monday, reaching $98.2232. The company’s stock had a trading volume of 161,530 shares. Old Dominion Freight Line, Inc. has a one year low of $64.99 and a one year high of $100.61. The firm has a 50-day moving average price of $95.11 and a 200 day moving average price of $89.42. The firm has a market capitalization of $8.10 billion, a PE ratio of 26.9622 and a beta of 1.08.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The business had revenue of $754.10 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post $3.99 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on ODFL shares. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Tuesday, July 11th. Stifel Nicolaus restated a “hold” rating and set a $91.00 price target on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Vertical Research reiterated a “hold” rating and set a $83.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Finally, Cowen and Company lifted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Old Dominion Freight Line currently has a consensus rating of “Buy” and a consensus price target of $96.78.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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