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

Posted by Defense World Staff on Sep 25th, 2024

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

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.
9/5/2024 – Old Dominion Freight Line had its price target lowered by analysts at Wells Fargo & Company from $175.00 to $170.00. They now have an “underweight” rating on the stock.
9/5/2024 – Old Dominion Freight Line had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $214.00 price target on the stock.
9/5/2024 – Old Dominion Freight Line had its “hold” rating reaffirmed by analysts at Benchmark Co..

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $198.42 on Wednesday. The business has a 50-day simple moving average of $196.18 and a two-hundred day simple moving average of $195.22. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 4.08 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC raised its position in shares of Old Dominion Freight Line by 8.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after buying an additional 395 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in Old Dominion Freight Line by 98.3% in the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after acquiring an additional 50,019 shares in the last quarter. Forsta AP Fonden increased its stake in Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after acquiring an additional 15,600 shares during the last quarter. Sei Investments Co. raised its position in Old Dominion Freight Line by 98.6% during the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after purchasing an additional 21,438 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock valued at $1,612,000 after purchasing an additional 4,554 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.