4,795 Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 380.6% in the third quarter, HoldingsChannel reports. The fund owned 6,055 shares of the transportation company’s stock after buying an additional 4,795 shares during the period. Soltis Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,053,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $25,000. Solstein Capital LLC purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $26,000. EFG International AG purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $29,000. Transamerica Financial Advisors LLC purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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 revenue of $1.59 billion, up 13.1% year over year, while earnings of $1.65 per share exceeded the $1.61 analyst consensus. Its operating ratio improved 280 basis points to 71.5%, demonstrating strong cost control and operating efficiency. Old Dominion: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts still see meaningful upside from the current level. Wells Fargo, Stifel Nicolaus and Raymond James maintain bullish views, with targets of $220, $224 and $210, respectively, although each firm reduced its target. Raymond James Lowers Old Dominion Price Target
• Neutral Sentiment: UBS lowered its price target from $228 to $194 and kept a neutral rating, while TD Cowen cut its target from $233 to $226 and maintained a hold rating. The revisions imply analysts remain constructive on long-term value but have reduced estimates for near-term conditions. Analyst Price Target Changes
• Negative Sentiment: Management expects fourth-quarter revenue of $1.54 billion to $1.58 billion, below third-quarter revenue, and is targeting a higher 73.5% operating ratio. Elevated fuel and health-care costs are expected to pressure margins. Old Dominion Fourth-Quarter Outlook
• Negative Sentiment: CEO Marty Freeman said freight demand remains sluggish and indicated that a potential Russian diesel deal would not materially improve the company’s fuel situation. The comments reinforce concerns about soft shipping volumes and limited relief from fuel costs. Russian Diesel Deal Will Not Make a Difference
• Negative Sentiment: The combination of a cautious fourth-quarter outlook, cost inflation and widespread analyst target reductions has fueled debate over whether the strong third-quarter margin performance can continue.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. Evercore restated an “outperform” rating and set a $243.00 price target (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $230.00 to $224.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America decreased their price objective on Old Dominion Freight Line from $240.00 to $205.00 in a report on Friday, September 4th. Susquehanna lowered their target price on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Jefferies Financial Group restated a “hold” rating and set a $190.00 target price on shares of Old Dominion Freight Line in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $218.00.

Old Dominion Freight Line Stock Up 0.1%

Shares of Old Dominion Freight Line stock opened at $172.56 on Friday. The firm has a market cap of $35.78 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 2.82 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The company’s fifty day simple moving average is $183.55 and its two-hundred day simple moving average is $201.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 20.86%.

Insider Activity

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is owned by insiders.

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.