Old Dominion Freight Line, Inc. $ODFL Stock Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.0% in the third quarter, HoldingsChannel.com reports. The firm owned 231,701 shares of the transportation company’s stock after acquiring an additional 8,850 shares during the quarter. ProShare Advisors LLC’s holdings in Old Dominion Freight Line were worth $40,279,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bell Investment Advisors Inc acquired a new stake in Old Dominion Freight Line in the second quarter valued at $25,000. Solstein Capital LLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $26,000. EFG International AG acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $29,000. Transamerica Financial Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction on 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 owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This 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 accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore reissued an “outperform” rating and set a $243.00 target price (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Zacks Research downgraded Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Bank of America dropped their price target on shares of Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th. UBS Group dropped their price target on shares of Old Dominion Freight Line from $228.00 to $194.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, TD Cowen cut their price objective on shares of Old Dominion Freight Line from $233.00 to $226.00 and set a “hold” rating on the stock in a report on Thursday. Ten 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. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $218.00.

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.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $172.56 on Monday. The firm has a market cap of $35.78 billion, a PE ratio of 31.04, a P/E/G ratio of 2.82 and a beta of 1.14. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The firm’s fifty day moving average is $183.55 and its two-hundred day moving average is $201.46.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.61 by $0.04. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Old Dominion Freight Line Profile

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.