Stonegate Investment Group LLC Grows Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Stonegate Investment Group LLC lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,430 shares of the transportation company’s stock after purchasing an additional 276 shares during the quarter. Stonegate Investment Group LLC’s holdings in Old Dominion Freight Line were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line during the third quarter worth $45,000. Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $64,000. Northwest Investment Counselors LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $67,000. Finally, Quarry LP purchased a new stake in Old Dominion Freight Line during the second quarter worth about $60,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research reports. Susquehanna restated a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. TD Cowen dropped their price target 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. Bank of America lowered their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays lowered their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Citigroup raised their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $202.44.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $189.99 on Wednesday. The company’s 50 day simple moving average is $195.44 and its 200-day simple moving average is $198.18. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a market cap of $40.56 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line Company Profile

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.