Investment Analysts’ Weekly Ratings Changes for Old Dominion Freight Line (ODFL)

Posted by Stephan Jacobs on Nov 5th, 2024

Several brokerages have updated their recommendations and price targets on shares of Old Dominion Freight Line (NASDAQ: ODFL) in the last few weeks:

10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at Wells Fargo & Company from $170.00 to $160.00. They now have an “underweight” rating on the stock.
10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at Susquehanna from $225.00 to $218.00. They now have a “positive” rating on the stock.
10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at Robert W. Baird from $204.00 to $200.00. They now have an “outperform” rating on the stock.
10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at BMO Capital Markets from $210.00 to $205.00. They now have a “market perform” rating on the stock.
10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at TD Cowen from $203.00 to $196.00. They now have a “hold” rating on the stock.
10/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at Barclays PLC from $195.00 to $190.00. They now have an “equal weight” rating on the stock.
10/21/2024 – Old Dominion Freight Line was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $197.00 price target on the stock, down previously from $209.00.
10/18/2024 – Old Dominion Freight Line was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $210.00 price target on the stock, down previously from $214.00.
10/9/2024 – Old Dominion Freight Line had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $228.00 to $216.00. They now have a “neutral” rating on the stock.
10/9/2024 – Old Dominion Freight Line is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $206.00 price target on the stock.
10/3/2024 – Old Dominion Freight Line had its price target lowered by analysts at Evercore ISI from $199.00 to $188.00. They now have an “in-line” rating on the stock.
9/18/2024 – Old Dominion Freight Line had its price target raised by analysts at Susquehanna from $210.00 to $225.00. They now have a “positive” rating on the stock.
9/11/2024 – Old Dominion Freight Line had its “hold” rating reaffirmed by analysts at Benchmark Co..
9/6/2024 – Old Dominion Freight Line had its price target lowered by analysts at JPMorgan Chase & Co. from $193.00 to $189.00. They now have a “neutral” rating on the stock.
9/6/2024 – Old Dominion Freight Line had its price target lowered by analysts at Bank of America Co. from $210.00 to $206.00. They now have a “neutral” rating on the stock.
9/6/2024 – Old Dominion Freight Line had its price target lowered by analysts at TD Cowen from $214.00 to $209.00. They now have a “hold” rating on the stock.

Old Dominion Freight Line Stock Up 1.5 %

Shares of ODFL opened at $203.99 on Tuesday. The company has a 50-day simple moving average of $195.57 and a 200-day simple moving average of $189.67. The firm has a market capitalization of $44.32 billion, a P/E ratio of 35.66, a P/E/G ratio of 4.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Activity

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,975 shares of company stock valued at $9,386,158. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.