Proficio Capital Partners LLC Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Proficio Capital Partners LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, HoldingsChannel.com reports. The firm bought 1,606 shares of the transportation company’s stock, valued at approximately $283,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $45,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $168.67 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $35.85 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The firm’s 50-day moving average is $183.51 and its two-hundred day moving average is $193.88. Old Dominion Freight Line, Inc. has a 12 month low of $157.67 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Morgan Stanley increased their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $202.65.

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.