LRI Investments LLC Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

by · The Markets Daily

LRI Investments LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 73.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187 shares of the transportation company’s stock after purchasing an additional 79 shares during the period. LRI Investments LLC’s holdings in Old Dominion Freight Line were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. TrueWealth Advisors LLC purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth approximately $254,000. Herold Advisors Inc. increased its position in shares of Old Dominion Freight Line by 18.1% during the second quarter. Herold Advisors Inc. now owns 5,033 shares of the transportation company’s stock worth $889,000 after purchasing an additional 773 shares in the last quarter. &PARTNERS acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $373,000. RMR Wealth Builders lifted its holdings in Old Dominion Freight Line by 17.9% in the 2nd quarter. RMR Wealth Builders now owns 1,855 shares of the transportation company’s stock valued at $328,000 after purchasing an additional 281 shares in the last quarter. Finally, Fortis Capital Management LLC boosted its stake in Old Dominion Freight Line by 119.0% during the 2nd quarter. Fortis Capital Management LLC now owns 19,119 shares of the transportation company’s stock worth $3,376,000 after purchasing an additional 10,388 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.4 %

Shares of NASDAQ ODFL opened at $203.77 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $44.28 billion, a PE ratio of 35.88, a PEG ratio of 3.75 and a beta of 1.00. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The stock has a fifty day simple moving average of $190.54 and a 200-day simple moving average of $198.99.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.7 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ODFL shares. Evercore ISI reissued an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Bank of America boosted their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. TD Cowen increased their price target on Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James raised their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $200.88.

View Our Latest Stock Report on ODFL

About Old Dominion Freight Line

(Free Report)

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.

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