Old Dominion Freight Line (NASDAQ:ODFL) Stock Gets Price Target Cut from Stifel Nicolaus

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by Stifel Nicolaus from $230.00 to $224.00 in a report released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

A number of other research firms have also recently commented on ODFL. Truist Financial set a $230.00 price target on Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Susquehanna lowered their price target on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Evercore restated an “outperform” rating and issued a $243.00 target price (up from $237.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. BMO Capital Markets set a $235.00 price objective on Old Dominion Freight Line in a report on Wednesday, October 7th. Finally, Wall Street Zen cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Sunday, October 25th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $218.00.

Old Dominion Freight Line Stock Up 0.1%

Shares of NASDAQ:ODFL opened at $172.56 on Thursday. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $252.03. The business has a fifty day moving average of $183.55 and a two-hundred day moving average of $201.46. The stock has a market cap of $35.78 billion, a P/E ratio of 31.04, a PEG ratio of 2.82 and a beta of 1.20.

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

Old Dominion Freight Line Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Large investors have recently modified their holdings of the business. Nykredit A S bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $16,333,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Old Dominion Freight Line during the second quarter valued at approximately $42,410,000. Compass Financial Management LLC purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $2,158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Old Dominion Freight Line by 14.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after purchasing an additional 142,809 shares during the last quarter. Finally, Daiichi Life Insurance Co. Ltd. bought a new position in Old Dominion Freight Line during the second quarter valued at approximately $2,139,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line News Roundup

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.