Old Dominion Freight Line (ODFL) Stock Plunges – What's Behind the Drop?

Old Dominion Freight Line shares fell -3.9% this morning to a price of $211.82. The stock is still trading within range of its average target price of $215.66, and over the last 52 weeks, it has recorded a 27.4% performance. Analysts have given the Large-Cap Integrated Freight & Logistics stock target prices ranging from $175.0 to $260.0 dollars per share, with an average rating of hold.

The stock has an average amount of shares sold short at 2.3%, and a short ratio of 3.44. The company's insiders own 19.84% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 75.6% of Old Dominion Freight Line's shares being owned by this investor type.

Institutions Invested in Old Dominion Freight Line

Date Reported Holder Percentage Shares Value
2023-12-31 Vanguard Group Inc 20% 21,702,258 $4,596,972,448
2023-12-31 Blackrock Inc. 16% 17,603,880 $3,728,853,990
2023-12-31 Price (T.Rowe) Associates Inc 12% 12,650,642 $2,679,659,081
2023-12-31 Capital Research Global Investors 8% 8,290,946 $1,756,188,242
2023-12-31 State Street Corporation 7% 7,481,828 $1,584,800,861
2023-12-31 Bank Of New York Mellon Corporation 6% 6,104,360 $1,293,025,579
2023-12-31 JP Morgan Chase & Company 5% 4,969,410 $1,052,620,462
2023-12-31 FMR, LLC 4% 4,433,842 $939,176,444
2023-12-31 Geode Capital Management, LLC 4% 4,314,060 $913,804,220
2023-12-31 CIBC Private Wealth Group, LLC 4% 4,203,838 $890,456,995

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Old Dominion Freight Line.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.