TD Cowen analyst Jason Seidl has reiterated their neutral stance on ODFL stock, giving a Hold rating on April 9.
Jason Seidl’s rating is based on a combination of factors that reflect both positive and negative outlooks for Old Dominion Freight. The company’s first-quarter earnings per share exceeded expectations, indicating some operational strengths. However, despite this positive performance, the revenue per day trends in April suggest a sluggish start to the second quarter, which raises concerns about the company’s near-term growth prospects.
Furthermore, the macroeconomic uncertainty, particularly related to tariffs, is expected to negatively impact tonnage, aligning with recent industrial survey data. Although Old Dominion Freight has started to gain market share and anticipates a shift from truckload to less-than-truckload freight, these potential benefits may be overshadowed by the broader economic headwinds. Additionally, while the pricing environment remains favorable, the company’s lowered capital expenditure guidance reflects planning uncertainty. These mixed signals contribute to the Hold rating, as the positive aspects are counterbalanced by the challenges ahead.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ODFL in relation to earlier this year.