Vest Financial LLC Decreases Stake in Old Dominion Freight Line, Inc. $ODFL

Vest Financial LLC reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.5% during the third quarter, HoldingsChannel reports. The fund owned 129,021 shares of the transportation company’s stock after selling 41,817 shares during the quarter. Vest Financial LLC’s holdings in Old Dominion Freight Line were worth $18,164,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stephens Inc. AR raised its position in shares of Old Dominion Freight Line by 0.7% in the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after purchasing an additional 67 shares during the period. YANKCOM Partnership boosted its holdings in Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after buying an additional 68 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after buying an additional 71 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in Old Dominion Freight Line by 0.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 72 shares during the period. Finally, STF Management LP raised its holdings in Old Dominion Freight Line by 2.4% during the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after acquiring an additional 77 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $178.40 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock has a market cap of $37.30 billion, a P/E ratio of 35.90, a PEG ratio of 8.45 and a beta of 1.27. The business’s 50-day moving average price is $154.29 and its two-hundred day moving average price is $150.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group raised their target price on Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Cantor Fitzgerald set a $165.00 price target on Old Dominion Freight Line in a research report on Thursday, December 18th. The Goldman Sachs Group increased their price target on shares of Old Dominion Freight Line from $181.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $163.33.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.