Old Dominion Freight Line, Inc. $ODFL Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,371 shares of the transportation company’s stock after selling 3,767 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $9,487,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $28,000. Chilton Capital Management LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $47,000. Finally, Blue Trust Inc. boosted its stake in Old Dominion Freight Line by 65.5% in the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock worth $67,000 after purchasing an additional 163 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research analyst reports. Raymond James Financial boosted their target price on shares of Old Dominion Freight Line from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Stephens reiterated an “overweight” rating and set a $190.00 price objective on shares of Old Dominion Freight Line in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft cut their target price on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $172.00 to $170.00 in a research note on Monday, December 1st. Finally, Rothschild Redb upgraded Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. Ten investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $163.33.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $173.99 on Tuesday. The business’s 50-day moving average is $156.87 and its two-hundred day moving average is $150.12. The company has a market capitalization of $36.38 billion, a P/E ratio of 35.01, a P/E/G ratio of 8.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts predict 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 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.