Old Dominion Freight Line (NASDAQ:ODFL) Stock Dropped to “Hold” by Wall Street Zen

Wall Street Zen downgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

A number of other analysts have also weighed in on ODFL. BMO Capital Markets set a $235.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $227.00 price target (down from $250.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Truist Financial set a $230.00 price objective on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Wednesday, October 7th. Wells Fargo & Company upgraded Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $250.00 in a report on Wednesday, July 8th. Finally, Wolfe Research upgraded Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 7th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $223.48.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $182.70 on Friday. The firm has a market cap of $37.88 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 3.02 and a beta of 1.20. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $252.03. The company’s fifty day simple moving average is $186.11 and its two-hundred day simple moving average is $207.32.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.86 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid 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 dividend yield of 0.6%. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’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 owned 22,746 shares in the company, valued at $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently bought and sold shares of ODFL. Bogart Wealth LLC boosted its position in Old Dominion Freight Line by 9.9% during the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 46 shares during the period. Private Advisor Group LLC grew its stake in Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after buying an additional 55 shares during the last quarter. Keybank National Association OH increased its position in Old Dominion Freight Line by 2.3% in the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after buying an additional 56 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased 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 worth $27,000 after buying an additional 62 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Old Dominion Freight Line by 13.9% in the second quarter. Parkside Financial Bank & Trust now owns 526 shares of the transportation company’s stock worth $114,000 after buying an additional 64 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line News Summary

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

• Positive Sentiment: Old Dominion declared a quarterly dividend of $0.29 per share, payable December 16 to shareholders of record December 2. The payout provides modest income support, although the approximately 0.6% yield is unlikely to be a major stock catalyst. Old Dominion dividend announcement
• Positive Sentiment: Analysts expect strong year-over-year earnings growth in the upcoming report, while Zacks says Old Dominion’s history of earnings beats and current estimate trends could support another upside surprise. Old Dominion earnings estimate analysis
• Neutral Sentiment: Institutional positioning is mixed: 510 investors added shares in the latest quarter, while 448 reduced positions. Several large funds made sizable purchases, but other major holders cut exposure, offering no clear consensus signal.
• Neutral Sentiment: Analyst price targets remain materially above the current trading level, with a reported six-month median target of $234, but recent target reductions suggest expectations are becoming more cautious.
• Negative Sentiment: Investors appear cautious before the October 28 earnings release. August revenue per day increased 12.4%, helped by pricing, but tons per day fell 0.9% and shipments per day declined 2.4%, raising concerns about underlying freight demand. Old Dominion shares and freight signals
• Negative Sentiment: A separate analysis argues that ODFL looks expensive relative to its cash-flow generation, increasing downside risk if earnings or guidance fail to exceed elevated expectations. Old Dominion valuation analysis
• Negative Sentiment: Higher fuel costs are creating a broader competitive disadvantage for trucking companies versus railroads, potentially pressuring operating margins across the freight sector. Railroads and fuel costs

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.