Conestoga Capital Advisors LLC Grows Position in Old Dominion Freight Line, Inc. $ODFL

Conestoga Capital Advisors LLC increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 41.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,179 shares of the transportation company’s stock after acquiring an additional 635 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its stake in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares during the period. GAMMA Investing LLC lifted its stake in Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after acquiring an additional 1,018 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Old Dominion Freight Line by 9.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock worth $2,911,000 after acquiring an additional 1,529 shares during the period. PFG Investments LLC raised its holdings in Old Dominion Freight Line by 22.0% in the first quarter. PFG Investments LLC now owns 2,331 shares of the transportation company’s stock worth $386,000 after purchasing an additional 421 shares in the last quarter. Finally, Kentucky Retirement Systems raised its holdings in Old Dominion Freight Line by 1.9% in the first quarter. Kentucky Retirement Systems now owns 13,206 shares of the transportation company’s stock worth $2,185,000 after purchasing an additional 247 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $138.04 on Monday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company’s 50 day moving average is $145.42 and its 200 day moving average is $154.63. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $29.01 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 3.26 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.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 EPS. Old Dominion Freight Line’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a report on Thursday, July 31st. UBS Group boosted their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Stifel Nicolaus reduced their target price on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Thursday, July 31st. Finally, Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a report on Tuesday, July 1st. Eight 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’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average 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.