Old Dominion Freight Line (NASDAQ:ODFL) Trading Down 7.5% - Time to Sell?

Key Points

• Shares fell 7.5% intraday to about $190.31 on Monday, with roughly 2.27 million shares traded (in line with average); the stock has a market cap near $40 billion and sits below its 50‑day SMA (~$201) but above its 200‑day SMA (~$173).
• Analysts maintain a consensus rating of "Hold" with a consensus target of $203.96, though individual price targets range widely (examples include Truist $225 and Stephens $240), reflecting mixed sentiment.
• Fundamentals: the company beat quarterly EPS estimates ($1.14 vs. $1.05) while revenue was down 2.9% year‑over‑year; Old Dominion raised its quarterly dividend to $0.29, and insiders sold roughly 80,134 shares (~$15.6M) in the last quarter.

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) fell 7.5% during mid-day trading on Monday . The stock traded as low as $190.95 and last traded at $190.3080. 2,271,902 shares were traded during trading, an increase of 0% from the average session volume of 2,268,347 shares. The stock had previously closed at $205.81.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ODFL. Truist Financial set a $225.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. TD Cowen reaffirmed a "hold" rating and issued a $194.00 target price (up from $180.00) on shares of Old Dominion Freight Line in a research note on Thursday. Barclays set a $210.00 target price on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Stephens reaffirmed an "overweight" rating and issued a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $203.96.

Old Dominion Freight Line Price Performance

The company has a market capitalization of $40.03 billion, a P/E ratio of 40.21, a P/E/G ratio of 4.22 and a beta of 1.17. The stock's 50 day simple moving average is $201.00 and its two-hundred day simple moving average is $173.39.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.31 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. Old Dominion Freight Line's dividend payout ratio is presently 24.27%.

Insider Transactions at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director owned 11,278 shares of the company's stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 80,134 shares of company stock worth $15,640,132 in the last quarter. 10.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock valued at $499,007,000 after purchasing an additional 622,275 shares during the period. Truist Financial Corp grew its holdings in Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company's stock valued at $12,405,000 after purchasing an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. acquired a new position in Old Dominion Freight Line during the third quarter valued at approximately $4,307,000. Atlantic Union Bankshares Corp acquired a new position in Old Dominion Freight Line during the third quarter valued at approximately $1,999,000. Finally, Citigroup Inc. grew its holdings in Old Dominion Freight Line by 46.4% during the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company's stock valued at $146,507,000 after purchasing an additional 329,895 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

About Old Dominion Freight Line

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.

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