Azzad Asset Management Inc. ADV Sells 5,352 Shares of Old Dominion Freight Line, Inc. $ODFL

Azzad Asset Management Inc. ADV cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,897 shares of the transportation company’s stock after selling 5,352 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Old Dominion Freight Line were worth $2,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ODFL. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 0.4% during the second quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock worth $3,693,663,000 after purchasing an additional 91,842 shares in the last quarter. JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 20.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after purchasing an additional 492,563 shares during the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $371,961,000. Lazard Asset Management LLC boosted its position in Old Dominion Freight Line by 11.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock valued at $313,802,000 after buying an additional 200,681 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Old Dominion Freight Line by 9.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after buying an additional 137,068 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several research reports. Robert W. Baird lowered Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and upped their price target for the company from $166.00 to $204.00 in a research note on Thursday. Cantor Fitzgerald set a $165.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, December 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $195.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $150.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $160.00 to $195.00 and gave the company a “hold” rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $185.46.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $202.47 on Monday. The company has a 50 day moving average price of $166.70 and a two-hundred day moving average price of $151.57. The company has a market capitalization of $42.34 billion, a PE ratio of 41.92, a PEG ratio of 10.17 and a beta of 1.28. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.29 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is 23.19%.

More Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Q4 results modestly beat expectations (EPS $1.09 vs. $1.06) and management set cautious Q1 revenue guidance ($1.25B–$1.30B), signaling the freight market may be stabilizing — investors viewed this as the start of a recovery. Old Dominion Freight Line: Already Trading On A Strong Recovery
• Positive Sentiment: Several analysts raised estimates/price targets after the quarter and called out the beat — the aggregate analyst activity (raises from Jefferies, Evercore, TD Cowen and others) supported upside momentum. Analysts Boost Their Forecasts After Better-Than-Expected Q4 Earnings
• Positive Sentiment: A large, high-profile price-target upgrade (reported coverage on the Morgan Stanley move) produced an outsized intraday jump earlier in the week, amplifying follow-through buying. Old Dominion Climbs 9.89% as Morgan Stanley Hikes PT
• Neutral Sentiment: Industry commentary and management commentary point to early signs of improvement — “freight market starting to feel a little bit better” — but language remains cautious and recovery is described as early/still uneven. Old Dominion: Freight market ‘starting to feel a little bit better’
• Neutral Sentiment: Mixed analyst activity: Citi reaffirmed neutral with a $216 PT while other shops moved ratings/targets (some to “hold”/“in-line”) — this broad but mixed analyst reaction keeps sentiment balanced rather than uniformly bullish. Citi Reaffirms Neutral
• Negative Sentiment: Revenue declined 5.7% Y/Y and LTL tons per day fell ~10.7% — volume weakness remains the primary headwind and a key reason some analysts trimmed ratings or kept conservative targets. Analyst note on volume declines
• Negative Sentiment: Some sell-side moves are negative: Robert W. Baird downgraded to underperform and other firms (Wells Fargo, JPMorgan in context) left targets below the current share price, creating downside risk if volume recovery stalls. Baird Downgrades Old Dominion
• Negative Sentiment: Regional economic commentary (Old Dominion University forecast) points to slowing local growth, a modest macro risk for freight demand if softening extends. Old Dominion University Economic Forecast

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.