Old Dominion Freight Line (ODFL) Stock Forecast, Price & News

18 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Old Dominion Freight Line in the last twelve months. There are currently 2 sell ratings, 9 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" ODFL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ODFL, but not buy additional shares or sell existing shares.
View ODFL analyst ratings or view top-rated stocks.

18 analysts have issued twelve-month price targets for Old Dominion Freight Line's shares. Their ODFL share price forecasts range from $260.00 to $473.00. On average, they anticipate the company's share price to reach $374.60 in the next twelve months. This suggests that the stock has a possible downside of 7.9%.
View analysts price targets for ODFL or view top-rated stocks among Wall Street analysts.

Old Dominion Freight Line's stock was trading at $283.78 at the beginning of 2023. Since then, ODFL shares have increased by 43.4% and is now trading at $406.85.
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Old Dominion Freight Line saw a drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,580,000 shares, a drop of 15.1% from the August 31st total of 3,040,000 shares. Based on an average daily volume of 794,600 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.8% of the shares of the company are sold short.
View Old Dominion Freight Line's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023.
View our ODFL earnings forecast.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) announced its quarterly earnings results on Wednesday, July, 26th. The transportation company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. The transportation company earned $1.41 billion during the quarter, compared to analysts' expectations of $1.44 billion. Old Dominion Freight Line had a trailing twelve-month return on equity of 34.58% and a net margin of 21.49%. The company's quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $3.30 earnings per share.
Read the conference call transcript.

Old Dominion Freight Line announced a quarterly dividend on Thursday, July 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.40 per share on Wednesday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Tuesday, September 5th.
Read our dividend analysis for ODFL.

ETFs with the largest weight of Old Dominion Freight Line (NASDAQ:ODFL) stock in their portfolio include ProShares Supply Chain Logistics ETF (SUPL), iShares U.S. Transportation ETF (IYT), Invesco Dorsey Wright Industrials Momentum ETF (PRN), Sterling Capital Focus Equity ETF (LCG), Direxion Daily Transportation Bull 3X Shares (TPOR), Invesco Focused Discovery Growth ETF (IVDG), VictoryShares THB Mid Cap ESG ETF (MDCP) and Pacer Industrials and Logistics ETF (SHPP).

Old Dominion Freight Line (NASDAQ:ODFL) pays an annual dividend of $1.60 per share and currently has a dividend yield of 0.40%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 13.90%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ODFL will have a dividend payout ratio of 12.30% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ODFL.

Old Dominion Freight Line shares split on the morning of Tuesday, March 24th 2020. The 3-2 split was announced on Friday, February 21st 2020. The newly created shares were payable to shareholders after the market closes on Monday, March 23rd 2020. An investor that had 100 shares of stock prior to the split would have 150 shares after the split.

Old Dominion Freight Line announced that its board has authorized a stock buyback program on Wednesday, July 26th 2023, which allows the company to buyback $3,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

310 employees have rated Old Dominion Freight Line Chief Executive Officer David S. Congdon on Glassdoor.com. David S. Congdon has an approval rating of 83% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Old Dominion Freight Line investors own include NVIDIA (NVDA), Walt Disney (DIS), Netflix (NFLX), Home Depot (HD), PayPal (PYPL), Mastercard (MA), Intel (INTC), Johnson & Johnson (JNJ), Visa (V) and ServiceNow (NOW).

Old Dominion Freight Line trades on the NASDAQ under the ticker symbol "ODFL."

Old Dominion Freight Line's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (7.76%), Capital Research Global Investors (5.18%), State Street Corp (3.39%), Bank of New York Mellon Corp (3.28%), JPMorgan Chase & Co. (2.09%) and Geode Capital Management LLC (2.06%). Insiders that own company stock include Bradley R Gabosch, David J Bates, David S Congdon, Leo H Suggs, Steven W Hartsell and Thomas A Stith III.
View institutional ownership trends.

Shares of ODFL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ODFL stock can currently be purchased for approximately $406.85.

Old Dominion Freight Line (NASDAQ:ODFL) has a market capitalization of $44.46 billion and generates $6.26 billion in revenue each year. The transportation company earns $1.38 billion in net income (profit) each year or $11.51 on an earnings per share basis.

The company employs 23,471 workers across the globe.

Old Dominion Freight Line's mailing address is 500 OLD DOMINION WAY, THOMASVILLE NC, 27360. The official website for the company is www.odfl.com. The transportation company can be reached via phone at (336) 889-5000, via email at investor.relations@odfl.com, or via fax at 336-822-5239.