Y Intercept Hong Kong Ltd Boosts Stock Position in Old Dominion Freight Line, Inc. $ODFL

Y Intercept Hong Kong Ltd boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 186.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,018 shares of the transportation company’s stock after purchasing an additional 37,134 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Old Dominion Freight Line were worth $8,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Old Dominion Freight Line by 31.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock worth $35,685,000 after purchasing an additional 60,279 shares in the last quarter. Ascent Group LLC lifted its position in Old Dominion Freight Line by 440.7% during the third quarter. Ascent Group LLC now owns 8,564 shares of the transportation company’s stock valued at $1,206,000 after buying an additional 6,980 shares in the last quarter. Vest Financial LLC grew its stake in Old Dominion Freight Line by 66.8% during the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after buying an additional 68,410 shares during the period. Bridges Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 0.7% in the second quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company’s stock worth $111,818,000 after acquiring an additional 4,849 shares in the last quarter. Finally, Founders Financial Securities LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $908,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on ODFL. Rothschild & Co Redburn initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, November 26th. They set a “sell” rating and a $114.00 price target for the company. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Friday, January 9th. Truist Financial upped their target price on Old Dominion Freight Line from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Evercore ISI set a $150.00 target price on Old Dominion Freight Line and gave the company an “in-line” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Trading Down 2.2%

NASDAQ:ODFL opened at $174.30 on Friday. The stock has a market cap of $36.45 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 8.86 and a beta of 1.27. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $209.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50-day simple moving average is $155.98 and its 200 day simple moving average is $150.34.

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 (EPS) for the quarter, topping 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 company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $1.43 EPS. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

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.