Focus Partners Wealth Purchases 2,240 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Focus Partners Wealth boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,906 shares of the transportation company’s stock after acquiring an additional 2,240 shares during the period. Focus Partners Wealth’s holdings in Old Dominion Freight Line were worth $4,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. Norges Bank bought a new position in Old Dominion Freight Line in the fourth quarter worth approximately $494,916,000. T. Rowe Price Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Old Dominion Freight Line in the fourth quarter worth approximately $128,221,000. Raymond James Financial Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after purchasing an additional 573,586 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ODFL. Truist Financial lowered their price objective on Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Raymond James set a $185.00 price objective on Old Dominion Freight Line and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Bank of America lowered their price objective on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.37.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $171.65 on Thursday. The stock has a fifty day simple moving average of $159.58 and a two-hundred day simple moving average of $184.14. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The firm has a market cap of $36.27 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company earned $1.34 earnings per share. Old Dominion Freight Line’s revenue was down 5.8% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share 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.