Old Dominion Freight Line Stock Price, News & Analysis (NASDAQ:ODFL)

19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Old Dominion Freight Line in the last twelve months. There are currently 2 sell ratings, 10 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street 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.

19 Wall Street research analysts have issued twelve-month price targets for Old Dominion Freight Line's stock. Their ODFL share price targets range from $297.00 to $473.00. On average, they anticipate the company's share price to reach $395.47 in the next year. This suggests a possible upside of 6.8% from the stock's current price.
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 stock has increased by 30.5% and is now trading at $370.34.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 7th 2024.
View our ODFL earnings forecast.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) issued its earnings results on Wednesday, October, 25th. The transportation company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.20. The transportation company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.51 billion. Old Dominion Freight Line had a trailing twelve-month return on equity of 32.45% and a net margin of 21.16%. Old Dominion Freight Line's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the business earned $3.36 earnings per share.
Read the conference call transcript.

Old Dominion Freight Line declared a quarterly dividend on Thursday, October 19th. Stockholders of record on Wednesday, December 6th will be given a dividend of $0.40 per share on Wednesday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Tuesday, December 5th.
Read our dividend analysis for ODFL.

Old Dominion Freight Line (NASDAQ:ODFL) pays an annual dividend of $1.60 per share and currently has a dividend yield of 0.39%. 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 14.23%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ODFL will have a dividend payout ratio of 12.07% next year. This indicates that the company will be able to sustain or increase its dividend.
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), Profound Medical (PRN), iShares U.S. Transportation ETF (IYT), 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).

Shares of Old Dominion Freight Line 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 distributed 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 declared that its board has authorized a stock buyback program on Wednesday, July 26th 2023, which authorizes the company to buyback $3,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is 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's stock is owned by a variety of retail and institutional investors. Top institutional investors include Bank of New York Mellon Corp (3.20%), JPMorgan Chase & Co. (2.33%), FMR LLC (2.02%), Invesco Ltd. (1.28%), Northern Trust Corp (0.93%) and WCM Investment Management LLC (0.93%). 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.
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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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