Mercer Global Advisors Inc. ADV Buys 7,439 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mercer Global Advisors Inc. ADV grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 93.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,396 shares of the transportation company’s stock after buying an additional 7,439 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Old Dominion Freight Line were worth $2,716,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its position in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after acquiring an additional 55 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after purchasing an additional 55 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after purchasing an additional 59 shares during the last quarter. Lido Advisors LLC grew its position in Old Dominion Freight Line by 3.2% in the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock valued at $340,000 after purchasing an additional 59 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after buying an additional 61 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America decreased their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Stifel Nicolaus dropped their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Susquehanna dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $183.37.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $153.35 on Wednesday. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $32.53 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.89 and a beta of 1.31. The stock’s fifty day moving average price is $160.87 and its two-hundred day moving average price is $185.30.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Old Dominion Freight Line’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

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.