Old Dominion Freight Line (NASDAQ:ODFL) Stock Gets Price Target Reduction from Wells Fargo & Company

by · The Markets Daily

Old Dominion Freight Line (NASDAQ:ODFL – Free Report) had its price objective cut by Wells Fargo & Company from $250.00 to $220.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other research firms have also issued reports on ODFL. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target on shares of Old Dominion Freight Line in a research report on Thursday. UBS Group restated a “neutral” rating and set a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $230.00 to $224.00 and set a “buy” rating for the company in a research report on Thursday. Wolfe Research upgraded Old Dominion Freight Line from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Sunday, October 25th. Ten equities research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $218.00.

Get Our Latest Stock Report on Old Dominion Freight Line

Old Dominion Freight Line Stock Up 0.1%

Shares of Old Dominion Freight Line stock opened at $172.56 on Thursday. The company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.82 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 firm’s 50-day moving average price is $183.55 and its two-hundred day moving average price is $201.46.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. On average, sell-side analysts expect that Old Dominion Freight Line will post 5.93 earnings per share for the current 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 issued a $0.29 dividend. 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 0.7%. Old Dominion Freight Line’s dividend payout ratio is 20.86%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 added to or reduced their stakes in the stock. Bell Investment Advisors Inc bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Solstein Capital LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of 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 valued at $27,000 after buying an additional 62 shares during the period. Evolution Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line during the first quarter worth about $29,000. Finally, EFG International AG bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting 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

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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.

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