Brooklyn Investment Group Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Brooklyn Investment Group increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,255 shares of the transportation company’s stock after acquiring an additional 92 shares during the period. Brooklyn Investment Group’s holdings in Old Dominion Freight Line were worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. Toronto Dominion Bank grew its holdings in Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth $600,000. Sequoia Financial Advisors LLC grew its stake in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Old Dominion Freight Line in the 3rd quarter valued at $2,109,000. Finally, Avanza Fonder AB purchased a new stake in Old Dominion Freight Line in the 4th quarter worth $3,741,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $189.55 on Friday. The stock has a market capitalization of $40.47 billion, a PE ratio of 33.14, a PEG ratio of 3.40 and a beta of 1.05. The company has a 50 day moving average price of $199.69 and a 200-day moving average price of $197.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The business 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 business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Old Dominion Freight Line

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ODFL. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Susquehanna restated a “neutral” rating and issued a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Finally, Barclays lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $201.50.

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.