Neuberger Berman Group LLC Cuts Position in Old Dominion Freight Line, Inc.

Old Dominion Freight Line Sees Unusually Large Options Volume (NASDAQ:ODFL)

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Old Dominion Freight Line, Inc. (NASDAQ:ODFL) saw some unusual options trading on Thursday. Investors purchased 1,187 put options on the company. This is an increase of 1,111% compared to the average volume of 98 put options.

Old Dominion Freight Line stock opened at $196.06 on Friday. The company has a market cap of $23.00 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $201.78 and a 200 day simple moving average of $188.68. Old Dominion Freight Line has a 1-year low of $105.80 and a 1-year high of $213.66.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.58 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Tuesday, December 1st. Old Dominion Freight Line’s dividend payout ratio is currently 11.74%.

In other news, Director Leo H. Suggs sold 4,500 shares of the stock in a transaction on Friday, November 13th. The stock was sold at an average price of $200.00, for a total value of $900,000.00. Following the completion of the transaction, the director now owns 6,227 shares of the company’s stock, valued at $1,245,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 11.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ODFL. BlackRock Inc. lifted its stake in Old Dominion Freight Line by 5.4% in the third quarter. BlackRock Inc. now owns 7,606,153 shares of the transportation company’s stock valued at $1,376,101,000 after acquiring an additional 388,472 shares during the last quarter. AJO LP lifted its stake in Old Dominion Freight Line by 598.6% in the third quarter. AJO LP now owns 347,437 shares of the transportation company’s stock valued at $62,857,000 after acquiring an additional 297,702 shares during the last quarter. AQR Capital Management LLC lifted its stake in Old Dominion Freight Line by 137.7% in the second quarter. AQR Capital Management LLC now owns 513,366 shares of the transportation company’s stock valued at $85,085,000 after acquiring an additional 297,362 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Old Dominion Freight Line by 178.7% during the 2nd quarter. Marshall Wace LLP now owns 417,840 shares of the transportation company’s stock worth $70,861,000 after buying an additional 267,916 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Old Dominion Freight Line by 21.3% during the 2nd quarter. FMR LLC now owns 1,419,180 shares of the transportation company’s stock worth $240,679,000 after buying an additional 249,086 shares during the last quarter. Hedge funds and other institutional investors own 69.32% of the company’s stock.

ODFL has been the subject of a number of research analyst reports. Cowen boosted their target price on shares of Old Dominion Freight Line from $168.00 to $184.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Zacks Investment Research cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $209.00 target price on the stock. in a research note on Tuesday, November 10th. The Goldman Sachs Group boosted their price target on shares of Old Dominion Freight Line from $141.00 to $172.00 and gave the company a “sell” rating in a research report on Thursday, August 27th. BidaskClub upgraded shares of Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Finally, Wells Fargo & Company upped their target price on shares of Old Dominion Freight Line from $192.00 to $199.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $195.62.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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