Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Decreased by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,234,077 shares of the transportation company’s stock after selling 50,305 shares during the period. Lazard Asset Management LLC owned about 0.58% of Old Dominion Freight Line worth $217,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $494,916,000. T. Rowe Price Investment Management Inc. grew its position in Old Dominion Freight Line by 1,575.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its holdings in Old Dominion Freight Line by 92.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after buying an additional 573,586 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $158.28 on Monday. The firm has a market cap of $33.45 billion, a P/E ratio of 28.88, a PEG ratio of 2.89 and a beta of 1.31. 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 fifty-two week low of $144.90 and a fifty-two week high of $233.26. The stock’s 50-day moving average is $159.88 and its two-hundred day moving average is $184.47.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $1.34 EPS. Old Dominion Freight Line’s quarterly revenue was down 5.8% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 24th. Jefferies Financial Group reduced their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley set a $185.00 price target on Old Dominion Freight Line in a research report on Wednesday, April 2nd. Finally, Citigroup upgraded Old Dominion Freight Line from a “neutral” rating to a “buy” rating and cut their price objective for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average 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.