Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Target Lowered at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its target price dropped by research analysts at TD Cowen from $233.00 to $226.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen‘s price objective would suggest a potential upside of 33.85% from the company’s previous close.

Other equities analysts have also issued reports about the company. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their target price for the company from $231.00 to $223.00 in a report on Tuesday, September 8th. Wolfe Research raised Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 7th. Zacks Research lowered Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Barclays set a $200.00 price objective on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday. Finally, Evercore reaffirmed an “outperform” rating and set a $243.00 target price (up from $237.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Ten 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $219.48.

Old Dominion Freight Line Trading Down 2.6%

ODFL stock traded down $4.47 during trading on Thursday, hitting $168.85. 2,029,581 shares of the company’s stock were exchanged, compared to its average volume of 2,000,951. The business has a 50-day moving average price of $184.85 and a two-hundred day moving average price of $201.47. The stock has a market capitalization of $35.01 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.02 and a beta of 1.20. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line will post 5.86 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.20% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Old Dominion Freight Line during the second quarter valued at about $3,416,007,000. Bank of New York Mellon Corp purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at about $543,289,000. Legal & General Group Plc purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $253,155,000. Caisse de depot et placement du Quebec acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $190,557,000. Finally, Bank of America Corp DE acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth about $160,147,000. 77.82% of the stock is owned by institutional investors.

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 adjusted earnings of $1.65 per share, above the $1.61 consensus estimate, while revenue rose 13.1% year over year to $1.59 billion, exceeding expectations of $1.57 billion. Stronger pricing, yield improvement and cost controls supported the results. Old Dominion Freight Line Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: The operating ratio improved 280 basis points to 71.5%, indicating better efficiency and helping drive year-over-year earnings growth from $1.28 per share. Old Dominion: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Despite lowering their targets, Wells Fargo maintained an Overweight rating at $220, and Stifel maintained a Buy rating at $224. These targets imply substantial potential upside from recent trading levels. Wells Fargo Old Dominion Rating
• Neutral Sentiment: Management guided to fourth-quarter revenue of approximately $1.54 billion to $1.58 billion, suggesting continued growth but a potentially slower pace than the third quarter. Old Dominion Fourth-Quarter Outlook
• Negative Sentiment: The projected fourth-quarter operating ratio of 73.5% would be meaningfully worse than the third-quarter level, fueling concerns that freight-volume weakness could pressure margins even as pricing remains firm.
• Negative Sentiment: Raymond James lowered its price target to $210, while Wells Fargo cut its target from $250 to $220 and Stifel reduced its target from $230 to $224. Although ratings remain bullish, the cuts signal more cautious expectations for the freight recovery and near-term profitability. Raymond James Old Dominion Price Target

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.