Skopos Labs Inc. Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Skopos Labs Inc. purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 557 shares of the transportation company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Headinvest LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at about $30,000. Sound Income Strategies LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $34,000. JFS Wealth Advisors LLC increased its stake in Old Dominion Freight Line by 135.7% during the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares during the period. Finally, CVA Family Office LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling

In other news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Susquehanna upped their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 target price on the stock in a research note on Wednesday, May 8th. The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Barclays cut their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $209.08.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded up $1.49 during trading hours on Friday, hitting $173.06. The stock had a trading volume of 1,852,339 shares, compared to its average volume of 2,006,345. The firm has a market capitalization of $37.60 billion, a PE ratio of 30.47, a PEG ratio of 2.19 and a beta of 1.07. Old Dominion Freight Line, Inc. has a twelve month low of $149.00 and a twelve month high of $227.80. The stock’s 50 day moving average is $205.50 and its 200 day moving average is $204.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

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.