Old Dominion Freight Line (NASDAQ:ODFL) Stock Gets Price Target Reduction from TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective cut by TD Cowen from $233.00 to $226.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on ODFL. Weiss Ratings cut shares of Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $231.00 to $223.00 in a report on Tuesday, September 8th. Susquehanna dropped their target price on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Bank of America cut their target price on Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th. Finally, Sanford C. Bernstein started coverage on Old Dominion Freight Line in a report on Thursday, September 10th. They issued a “market perform” rating and a $200.00 price target for the company. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $218.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $172.56 on Thursday. The stock has a fifty day moving average price of $183.55 and a 200 day moving average price of $201.46. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $252.03. The company has a market cap of $35.78 billion, a PE ratio of 31.04, a P/E/G ratio of 2.82 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. Old Dominion Freight Line’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $1.28 EPS. Analysts anticipate that Old Dominion Freight Line will post 5.93 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. Old Dominion Freight Line’s payout ratio is currently 20.86%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Solstein Capital LLC acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC raised its position in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Evolution Wealth Management Inc. purchased a new position in Old Dominion Freight Line in the first quarter valued at about $29,000. Finally, EFG International AG purchased a new position in Old Dominion Freight Line in the second quarter valued at about $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Key Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Old Dominion reported third-quarter revenue of $1.59 billion, up 13.1% year over year, while earnings of $1.65 per share exceeded the $1.61 analyst consensus. Its operating ratio improved 280 basis points to 71.5%, demonstrating strong cost control and operating efficiency. Old Dominion: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts still see meaningful upside from the current level. Wells Fargo, Stifel Nicolaus and Raymond James maintain bullish views, with targets of $220, $224 and $210, respectively, although each firm reduced its target. Raymond James Lowers Old Dominion Price Target
• Neutral Sentiment: UBS lowered its price target from $228 to $194 and kept a neutral rating, while TD Cowen cut its target from $233 to $226 and maintained a hold rating. The revisions imply analysts remain constructive on long-term value but have reduced estimates for near-term conditions. Analyst Price Target Changes
• Negative Sentiment: Management expects fourth-quarter revenue of $1.54 billion to $1.58 billion, below third-quarter revenue, and is targeting a higher 73.5% operating ratio. Elevated fuel and health-care costs are expected to pressure margins. Old Dominion Fourth-Quarter Outlook
• Negative Sentiment: CEO Marty Freeman said freight demand remains sluggish and indicated that a potential Russian diesel deal would not materially improve the company’s fuel situation. The comments reinforce concerns about soft shipping volumes and limited relief from fuel costs. Russian Diesel Deal Will Not Make a Difference
• Negative Sentiment: The combination of a cautious fourth-quarter outlook, cost inflation and widespread analyst target reductions has fueled debate over whether the strong third-quarter margin performance can continue.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.