AdvisorNet Financial Inc Has $375,000 Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

AdvisorNet Financial Inc increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 94.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,710 shares of the transportation company’s stock after acquiring an additional 829 shares during the quarter. AdvisorNet Financial Inc’s holdings in Old Dominion Freight Line were worth $375,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ODFL. Fortitude Family Office LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $27,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Headinvest LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.7 %

NASDAQ:ODFL opened at $176.07 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market cap of $38.26 billion, a PE ratio of 31.00, a PEG ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line, Inc. has a 52-week low of $163.30 and a 52-week high of $227.80. The stock has a 50-day simple moving average of $182.11 and a 200 day simple moving average of $200.53.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ODFL. Barclays cut their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. BMO Capital Markets began coverage on Old Dominion Freight Line in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 target price on the stock. Evercore ISI cut their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $202.71.

Old Dominion Freight Line 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.