AIA Group Ltd decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 38.2% during the third quarter, HoldingsChannel reports. The firm owned 1,035 shares of the transportation company's stock after selling 639 shares during the quarter. AIA Group Ltd's holdings in Old Dominion Freight Line were worth $257,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ODFL. Canton Hathaway LLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $26,000. CoreCap Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $29,000. Glassman Wealth Services boosted its stake in shares of Old Dominion Freight Line by 105.3% during the 2nd quarter. Glassman Wealth Services now owns 117 shares of the transportation company's stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Old Dominion Freight Line by 56.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 175 shares of the transportation company's stock valued at $52,000 after purchasing an additional 63 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $57,000. Institutional investors own 73.08% of the company's stock.
Get Old Dominion Freight Line alerts:Insider Activity
In other news, Chairman David S. Congdon sold 32,000 shares of the business's stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the completion of the transaction, the chairman now directly owns 858,861 shares of the company's stock, valued at $269,639,410.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
ODFL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Old Dominion Freight Line from $267.00 to $290.00 in a research note on Monday, November 28th. Wells Fargo & Company boosted their price objective on shares of Old Dominion Freight Line from $305.00 to $315.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 4th. Morgan Stanley dropped their price objective on shares of Old Dominion Freight Line from $314.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Monday, October 3rd. Cowen boosted their price objective on shares of Old Dominion Freight Line to $267.00 in a research note on Thursday, October 27th. Finally, Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $265.00 to $260.00 in a research note on Thursday, October 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of "Hold" and a consensus target price of $289.67.Old Dominion Freight Line Trading Down 0.4 %
Shares of NASDAQ ODFL opened at $319.25 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The firm's 50 day moving average price is $298.49 and its 200-day moving average price is $284.57. Old Dominion Freight Line, Inc. has a 52-week low of $231.31 and a 52-week high of $333.71. The company has a market cap of $35.27 billion, a PE ratio of 27.36, a P/E/G ratio of 2.20 and a beta of 1.07.
Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The transportation company reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.30. Old Dominion Freight Line had a net margin of 21.56% and a return on equity of 37.27%. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.62 billion. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 11.91 EPS for the current fiscal year.
About Old Dominion Freight Line
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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.
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