Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) had its price objective lifted by equities research analysts at Wolfe Research from $183.00 to $185.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has an “underperform” rating on the transportation company’s stock. Wolfe Research’s price objective would suggest a potential downside of 10.86% from the company’s current price.
ODFL has been the topic of several other reports. Barclays set a $185.00 price target on Old Dominion Freight Line in a research report on Thursday, February 5th. Evercore increased their price target on Old Dominion Freight Line from $200.00 to $201.00 in a research report on Friday, March 27th. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $165.00 to $200.00 in a research report on Tuesday. Jefferies Financial Group increased their price target on Old Dominion Freight Line from $195.00 to $210.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Raymond James Financial increased their price target on Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $194.92.
View Our Latest Stock Report on ODFL
Old Dominion Freight Line Price Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.
Insider Activity
In other news, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,134 shares of company stock worth $15,640,132 in the last ninety days. Company insiders own 10.00% of the company’s stock.
Institutional Investors Weigh In On Old Dominion Freight Line
A number of institutional investors have recently modified their holdings of ODFL. Brighton Jones LLC grew its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the period. Empowered Funds LLC grew its position in shares of Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after acquiring an additional 5,866 shares during the period. Marshall Wace LLP acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $7,478,000. Jump Financial LLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $2,891,000. Finally, Ossiam grew its position in shares of Old Dominion Freight Line by 8.7% during the 2nd quarter. Ossiam now owns 3,409 shares of the transportation company’s stock valued at $553,000 after acquiring an additional 272 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.
More Old Dominion Freight Line News
Here are the key news stories impacting Old Dominion Freight Line this week:
- Positive Sentiment: Morgan Stanley raised its price target to $215, signaling a more constructive view that implies roughly mid-single-digit upside and likely supporting buying interest. Morgan Stanley Increases Old Dominion Freight Line Price Target to $215.00
- Positive Sentiment: Wells Fargo upgraded ODFL from underweight to equal weight and materially lifted its target (previously $165) — the upgrade is a bullish signal that helps explain today’s strength. Coverage of the Wells Fargo action is available. Wells Fargo upgrades Old Dominion Freight Line (ODFL)
- Neutral Sentiment: Citigroup nudged its target to $218 and kept a neutral rating — a modestly constructive move (single-digit upside) but not a buy endorsement, so it provides gentle support without a major conviction shift. Citigroup adjusts Old Dominion Freight Line PT to $218 from $216
- Neutral Sentiment: JPMorgan slightly raised its target to $183 and retained a neutral rating — this target sits below recent market levels and represents restraint on upside, tempering bullish momentum. JPMorgan adjusts price target on Old Dominion Freight Line to $183
- Negative Sentiment: Wolfe Research raised its target modestly to $185 but kept an underperform rating, implying double-digit downside versus recent levels — a bearish anchor that could cap gains if investors focus on that call. Wolfe Research adjusts Old Dominion Freight Line PT to $185
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.
Further Reading
Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.
