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

Soltis Investment Advisors LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 380.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,055 shares of the transportation company’s stock after purchasing an additional 4,795 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth $3,416,007,000. Bank of New York Mellon Corp purchased a new position in Old Dominion Freight Line during the second quarter worth about $543,289,000. Legal & General Group Plc purchased a new position in Old Dominion Freight Line during the second quarter worth about $253,155,000. Caisse de depot et placement du Quebec purchased a new position in Old Dominion Freight Line during the second quarter worth about $190,557,000. Finally, Bank of America Corp DE bought a new position in Old Dominion Freight Line in the 2nd quarter worth about $160,147,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ODFL. BMO Capital Markets set a $235.00 price target on Old Dominion Freight Line in a report on Wednesday, October 7th. Weiss Ratings downgraded Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Evercore reissued an “outperform” rating and set a $243.00 price objective (up from $237.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $240.00 to $205.00 in a research report on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Sunday, October 25th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $218.00.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $172.56 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The company has a fifty day moving average of $183.55 and a 200-day moving average of $201.46. The company has a market capitalization of $35.78 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.82 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.93 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s payout ratio is 20.86%.

Insider Activity

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’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 completion of the transaction, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.20% of the company’s stock.

Old Dominion Freight Line News Roundup

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 Company 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.