Avanza Fonder AB Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Avanza Fonder AB purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,205 shares of the transportation company's stock, valued at approximately $3,741,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line during the 2nd quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $45,000. Brown Brothers Harriman & Co. grew its holdings in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares during the last quarter. Quarry LP purchased a new position in Old Dominion Freight Line in the 2nd quarter worth about $60,000. Finally, Versant Capital Management Inc lifted its holdings in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock valued at $62,000 after buying an additional 110 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ODFL. Robert W. Baird cut their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a report on Tuesday, January 7th. BMO Capital Markets cut their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average target price of $201.50.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $0.37 during mid-day trading on Friday, hitting $189.55. The company had a trading volume of 1,306,990 shares, compared to its average volume of 1,229,604. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company's fifty day moving average is $199.69 and its 200-day moving average is $197.59. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a market capitalization of $40.47 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 3.40 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company's quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company's stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company's stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company's stock.

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.