Twinbeech Capital LP Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Twinbeech Capital LP bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 92,560 shares of the transportation company’s stock, valued at approximately $16,328,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $51,000. Finally, CoreCap Advisors LLC lifted its holdings in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after buying an additional 168 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.2%

NASDAQ:ODFL opened at $171.61 on Tuesday. 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 50-day moving average of $159.65 and a 200-day moving average of $183.25. The company has a market cap of $36.27 billion, a PE ratio of 31.32, a PEG ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Bank of America boosted their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the company an “underweight” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $182.26.

About Old Dominion Freight Line

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.