Old Dominion Freight Line, Inc. $ODFL Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 84.7% in the third quarter, Holdings Channel reports. The firm owned 15,884 shares of the transportation company’s stock after selling 87,997 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Old Dominion Freight Line were worth $2,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its position in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 9,498 shares of the transportation company’s stock worth $1,337,000 after acquiring an additional 456 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Old Dominion Freight Line by 97.4% during the third quarter. Ritholtz Wealth Management now owns 25,222 shares of the transportation company’s stock worth $3,551,000 after purchasing an additional 12,443 shares during the last quarter. Littlejohn Financial Services Inc. bought a new stake in Old Dominion Freight Line during the third quarter valued at $1,045,000. Retirement Planning Group LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $406,000. Finally, Argentarii LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $211,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.1%

NASDAQ:ODFL opened at $172.59 on Friday. The stock has a market cap of $36.09 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 8.59 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 1 year low of $126.01 and a 1 year high of $209.61. The business has a fifty day moving average of $159.57 and a 200-day moving average of $150.48.

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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $172.00 to $170.00 in a research report on Monday, December 1st. Raymond James Financial upped their target price on Old Dominion Freight Line from $155.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, January 12th. Susquehanna reissued a “neutral” rating and issued a $170.00 price target on shares of Old Dominion Freight Line in a report on Monday, January 5th. Rothschild & Co Redburn initiated coverage on Old Dominion Freight Line in a research note on Wednesday, November 26th. They set a “sell” rating and a $114.00 price objective for the company. Finally, Jefferies Financial Group raised their target price on Old Dominion Freight Line from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 19th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $163.33.

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.