Mercer Global Advisors Inc. ADV Buys 7,439 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mercer Global Advisors Inc. ADV increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 93.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,396 shares of the transportation company’s stock after purchasing an additional 7,439 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Old Dominion Freight Line were worth $2,716,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $35,000. Itau Unibanco Holding S.A. boosted its stake in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares in the last quarter. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $41,000. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $51,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $69,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.8 %

Shares of Old Dominion Freight Line stock opened at $153.35 on Wednesday. The firm has a market cap of $32.53 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.89 and a beta of 1.31. The stock’s 50-day moving average is $160.87 and its 200 day moving average is $185.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ODFL shares. UBS Group lowered their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Stifel Nicolaus cut their price objective on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Finally, Bank of America cut their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $183.37.

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.