CNB Bank Cuts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

CNB Bank trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,973 shares of the transportation company’s stock after selling 98 shares during the period. CNB Bank’s holdings in Old Dominion Freight Line were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ODFL. Wellington Management Group LLP grew its holdings in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after purchasing an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth about $92,697,000. Franklin Resources Inc. increased its position in Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after purchasing an additional 437,700 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 136.0% in the 2nd quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock valued at $108,657,000 after acquiring an additional 354,588 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Susquehanna restated a “neutral” rating and set a $195.00 price target (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of 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. Finally, BMO Capital Markets dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $202.06.

View Our Latest Stock Analysis on ODFL

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $188.43 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50 day moving average price of $200.42 and a 200-day moving average price of $197.52. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The stock has a market capitalization of $40.23 billion, a PE ratio of 32.79, a PEG ratio of 3.40 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Old Dominion Freight Line Company Profile

(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.

See Also

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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