Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Short Interest Update

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 11,109,972 shares, a drop of 18.8% from the December 31st total of 13,677,631 shares. Currently, 5.9% of the shares of the stock are sold short. Based on an average trading volume of 1,856,537 shares, the short-interest ratio is presently 6.0 days. Based on an average trading volume of 1,856,537 shares, the short-interest ratio is presently 6.0 days. Currently, 5.9% of the shares of the stock are sold short.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Friday, January 9th. Bank of America increased their target price on Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Raymond James Financial boosted their price target on Old Dominion Freight Line from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $163.33.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently added to or reduced their stakes in ODFL. Norges Bank bought a new position in shares of Old Dominion Freight Line during the second quarter worth $371,961,000. Boston Partners acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth $292,599,000. Two Sigma Investments LP lifted its holdings in Old Dominion Freight Line by 637.5% during the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after acquiring an additional 1,362,697 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Old Dominion Freight Line by 21.6% in the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after acquiring an additional 776,004 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after acquiring an additional 622,275 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 7.5%

Old Dominion Freight Line stock traded up $12.93 during mid-day trading on Monday, hitting $186.13. The stock had a trading volume of 3,685,074 shares, compared to its average volume of 1,992,589. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $209.61. The stock has a 50-day simple moving average of $160.35 and a two-hundred day simple moving average of $150.38. 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 market capitalization of $38.92 billion, a PE ratio of 37.45, a P/E/G ratio of 8.61 and a beta of 1.28.

About Old Dominion Freight Line

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.