DekaBank Deutsche Girozentrale Purchases 106,067 Shares of Old Dominion Freight Line, Inc. $ODFL

DekaBank Deutsche Girozentrale boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 283.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,524 shares of the transportation company’s stock after acquiring an additional 106,067 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Old Dominion Freight Line worth $23,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Larson Financial Group LLC raised its position in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after acquiring an additional 108 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the first quarter worth $39,000. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line during the first quarter worth $39,000. Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line during the first quarter worth $43,000. Finally, WPG Advisers LLC bought a new stake in Old Dominion Freight Line during the first quarter worth $51,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 2.3%

ODFL stock opened at $141.02 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The company’s 50-day simple moving average is $145.03 and its 200 day simple moving average is $154.39. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26. The company has a market capitalization of $29.64 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.41 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company posted $1.48 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. 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

Several analysts have issued reports on ODFL shares. Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Thursday, July 31st. UBS Group increased their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Raymond James Financial set a $160.00 price objective on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Baird R W raised shares of Old Dominion Freight Line to a “hold” rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $163.86.

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.