Oak Ridge Investments LLC Purchases 2,134 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Oak Ridge Investments LLC boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 78.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,868 shares of the transportation company’s stock after acquiring an additional 2,134 shares during the quarter. Oak Ridge Investments LLC’s holdings in Old Dominion Freight Line were worth $1,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $27,000. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $27,000. Farmers & Merchants Investments Inc. increased its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $29,000. Finally, Headinvest LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at about $30,000. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ODFL shares. Bank of America decreased their price target on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research note on Thursday, June 6th. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. Evercore ISI restated an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. Finally, Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $201.18.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded up $0.90 on Friday, reaching $182.77. The company had a trading volume of 1,195,390 shares, compared to its average volume of 1,536,789. The stock has a market capitalization of $39.71 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.37 and a beta of 1.00. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The business’s 50-day moving average is $177.18 and its 200 day moving average is $199.60.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a $0.26 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

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.