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

Key Points

• TD Cowen lowered Old Dominion Freight Line’s price target from $233 to $226 while maintaining a “Hold” rating. The new target implies approximately 33.85% upside from the stock’s recent price.
• ODFL reported better-than-expected quarterly results, with EPS of $1.65 versus the $1.61 estimate and revenue of $1.59 billion, up 13.1% year over year.
• Analyst sentiment remains mixed but generally cautious: the consensus rating is “Hold” with a $219.48 price target, while management’s fourth-quarter outlook points to slower growth and a weaker projected operating ratio.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) had its target price dropped by analysts at TD Cowen from $233.00 to $226.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a "hold" rating on the transportation company's stock. TD Cowen's price target indicates a potential upside of 33.85% from the company's current price.

Several other brokerages have also issued reports on ODFL. Weiss Ratings lowered shares of Old Dominion Freight Line from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 25th. BMO Capital Markets set a $235.00 price target on Old Dominion Freight Line in a research note on Wednesday, October 7th. Sanford C. Bernstein initiated coverage on Old Dominion Freight Line in a research report on Thursday, September 10th. They issued a "market perform" rating and a $200.00 target price for the company. Citigroup raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $231.00 to $223.00 in a report on Tuesday, September 8th. Finally, Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $250.00 to $220.00 and set an "overweight" rating for the company in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $219.48.

Old Dominion Freight Line Trading Down 2.6%

ODFL stock traded down $4.47 during trading on Thursday, hitting $168.85. The company had a trading volume of 2,029,581 shares, compared to its average volume of 2,000,951. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $252.03. The business has a 50-day moving average of $184.85 and a 200-day moving average of $201.47. The stock has a market cap of $35.01 billion, a PE ratio of 32.62, a PEG ratio of 3.02 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued 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. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. Research analysts forecast that Old Dominion Freight Line will post 5.86 EPS for the current year.

Insider Buying and Selling

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company's stock, 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. 8.20% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter worth $25,104,000. ProShare Advisors LLC increased its position in Old Dominion Freight Line by 4.0% during the third quarter. ProShare Advisors LLC now owns 231,701 shares of the transportation company's stock valued at $40,279,000 after acquiring an additional 8,850 shares during the last quarter. Americana Partners LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $238,000. State of Wyoming lifted its holdings in shares of Old Dominion Freight Line by 133.3% in the 3rd quarter. State of Wyoming now owns 3,002 shares of the transportation company's stock worth $522,000 after buying an additional 1,715 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Old Dominion Freight Line by 11,283.3% in the third quarter. International Assets Investment Management LLC now owns 122,712 shares of the transportation company's stock valued at $211,000 after purchasing an additional 121,634 shares during the last quarter. 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: 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.

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