Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $215.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price raised by Morgan Stanley from $209.00 to $215.00 in a report published on Monday morning,MarketScreener reports. Morgan Stanley currently has an overweight rating on the transportation company’s stock.

ODFL has been the subject of several other reports. Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a report on Thursday, February 12th. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Stifel Nicolaus set a $217.00 target price on Old Dominion Freight Line in a report on Thursday, February 5th. Stephens reissued an “overweight” rating and issued a $232.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Bank of America set a $165.00 target price on Old Dominion Freight Line in a report on Thursday, December 18th. Nine analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $194.92.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $207.53 on Monday. The stock has a fifty day moving average price of $193.54 and a 200 day moving average price of $164.70. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $221.63. The company has a market cap of $43.26 billion, a PE ratio of 42.97, a P/E/G ratio of 4.18 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $1.23 earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the completion of the sale, the insider owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares in the last quarter. DT Investment Partners LLC increased its holdings in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Finally, DV Equities LLC purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $40,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line News Summary

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

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.