Boothbay Fund Management LLC Purchases 1,952 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Boothbay Fund Management LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 123.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,527 shares of the transportation company’s stock after buying an additional 1,952 shares during the quarter. Boothbay Fund Management LLC’s holdings in Old Dominion Freight Line were worth $622,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $35,000. Synergy Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $41,000. Murphy & Mullick Capital Management Corp bought a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $51,000. Versant Capital Management Inc increased its position in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth $69,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ODFL. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 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 report on Thursday, January 16th. Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Barclays reduced their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $183.37.

Old Dominion Freight Line Trading Up 2.4 %

NASDAQ ODFL opened at $153.28 on Thursday. The stock has a market cap of $32.52 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.89 and a beta of 1.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $162.75 and a two-hundred day simple moving average of $186.71. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.73%. Old Dominion Freight Line’s payout ratio is presently 21.01%.

About Old Dominion Freight Line

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.