Flossbach Von Storch SE Raises Stock Position in Old Dominion Freight Line, Inc. $ODFL

Flossbach Von Storch SE grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.0% in the third quarter, Holdings Channel.com reports. The fund owned 134,325 shares of the transportation company’s stock after purchasing an additional 27,687 shares during the period. Flossbach Von Storch SE’s holdings in Old Dominion Freight Line were worth $18,910,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ODFL. Ascent Group LLC increased its position in Old Dominion Freight Line by 440.7% during the third quarter. Ascent Group LLC now owns 8,564 shares of the transportation company’s stock worth $1,206,000 after buying an additional 6,980 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Old Dominion Freight Line by 31.2% during the third quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock valued at $35,685,000 after acquiring an additional 60,279 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Old Dominion Freight Line by 66.8% during the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock valued at $27,727,000 after acquiring an additional 68,410 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Old Dominion Freight Line by 186.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,018 shares of the transportation company’s stock worth $8,027,000 after purchasing an additional 37,134 shares in the last quarter. Finally, Capital Investment Counsel Inc raised its stake in Old Dominion Freight Line by 100.0% in the 3rd quarter. Capital Investment Counsel Inc now owns 12,302 shares of the transportation company’s stock valued at $1,732,000 after purchasing an additional 6,152 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the topic of several analyst reports. Jefferies Financial Group raised their price target on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Barclays set a $165.00 target price on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Wolfe Research set a $138.00 price target on Old Dominion Freight Line in a research note on Thursday, January 8th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Finally, Bank of America lifted their price objective on Old Dominion Freight Line from $147.00 to $149.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $163.33.

Old Dominion Freight Line Stock Down 1.0%

Shares of ODFL opened at $172.72 on Thursday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61. The company’s fifty day moving average is $158.65 and its two-hundred day moving average is $150.32. The firm has a market cap of $36.12 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 8.67 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company posted $1.43 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.