Old Dominion Freight Line, Inc. $ODFL Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 98.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,107 shares of the transportation company’s stock after selling 402,030 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Old Dominion Freight Line were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in shares of Old Dominion Freight Line in the second quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Rossby Financial LCC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $28,000. Chilton Capital Management LLC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $47,000. Finally, Blue Trust Inc. raised its stake in shares of Old Dominion Freight Line by 65.5% in the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $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.

Analysts Set New Price Targets

A number of equities analysts recently commented on ODFL shares. Truist Financial lifted their price target on Old Dominion Freight Line from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $142.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Rothschild & Co Redburn started coverage on Old Dominion Freight Line in a report on Wednesday, November 26th. They issued a “sell” rating and a $114.00 price target for the company. Susquehanna reissued a “neutral” rating and set a $170.00 price target on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Finally, Jefferies Financial Group raised their price objective 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. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Trading Up 0.4%

Shares of NASDAQ ODFL opened at $173.20 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 8.58 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $160.35 and its 200 day simple moving average is $150.53.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current 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.