Teacher Retirement System of Texas Decreases Position in Old Dominion Freight Line, Inc. $ODFL

Teacher Retirement System of Texas lessened its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,932 shares of the transportation company’s stock after selling 5,645 shares during the quarter. Teacher Retirement System of Texas’ holdings in Old Dominion Freight Line were worth $3,510,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares during the period. Rossby Financial LCC purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $28,000. Chilton Capital Management LLC bought a new position in Old Dominion Freight Line during the second quarter worth about $47,000. Finally, Blue Trust Inc. boosted its position in Old Dominion Freight Line by 65.5% during the second quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock worth $67,000 after purchasing an additional 163 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $172.72 on Thursday. The company has a market cap of $36.12 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 8.67 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $158.65 and a 200-day moving average price of $150.32. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the business earned $1.43 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast 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 several analyst reports. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Truist Financial raised their price target on Old Dominion Freight Line from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Stephens reiterated an “overweight” rating and set a $190.00 price objective on shares of Old Dominion Freight Line in a research note on Tuesday, January 6th. Barclays set a $165.00 target price on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Finally, Cantor Fitzgerald set a $165.00 target price on Old Dominion Freight Line in a report on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.