Old Dominion Freight Line (NASDAQ:ODFL) Stock Gets Price Target Reduction from UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by UBS Group from $228.00 to $194.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial set a $230.00 price objective on Old Dominion Freight Line and gave the company a “buy” rating in a research note on Wednesday, October 7th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $250.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Barclays set a $200.00 target price on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday. Finally, BMO Capital Markets set a $235.00 price target on Old Dominion Freight Line in a research report on Wednesday, October 7th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $218.00.

Old Dominion Freight Line Trading Up 0.1%

Shares of ODFL opened at $172.56 on Thursday. The firm’s 50-day moving average is $183.55 and its two-hundred day moving average is $201.46. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03. The firm has a market capitalization 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 issued its earnings results on Wednesday, October 28th. The transportation company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. The company 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 firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. Analysts predict that Old Dominion Freight Line will post 5.93 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The stock was 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 of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently made changes to their positions in ODFL. Chicago Partners Investment Group LLC lifted its position in Old Dominion Freight Line by 69.4% during the third quarter. Chicago Partners Investment Group LLC now owns 7,251 shares of the transportation company’s stock worth $1,325,000 after buying an additional 2,971 shares during the period. Compass Financial Management LLC increased its stake in shares of Old Dominion Freight Line by 14.0% during the 3rd quarter. Compass Financial Management LLC now owns 11,355 shares of the transportation company’s stock valued at $1,974,000 after acquiring an additional 1,394 shares during the last quarter. Rakuten Investment Management Inc. increased its stake in shares of Old Dominion Freight Line by 11.3% during the 3rd quarter. Rakuten Investment Management Inc. now owns 51,520 shares of the transportation company’s stock valued at $9,143,000 after acquiring an additional 5,233 shares during the last quarter. Third View Private Wealth LLC boosted its position in shares of Old Dominion Freight Line by 5.6% in the third quarter. Third View Private Wealth LLC now owns 11,596 shares of the transportation company’s stock worth $2,016,000 after acquiring an additional 612 shares during the last quarter. Finally, Provenance Wealth Advisors LLC boosted its position in shares of Old Dominion Freight Line by 39,625.0% in the third quarter. Provenance Wealth Advisors LLC now owns 3,178 shares of the transportation company’s stock worth $552,000 after acquiring an additional 3,170 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Trending Headlines about Old Dominion Freight Line

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.

Old Dominion Freight Line Company Profile

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.