David S. Congdon, Executive Chairman of Old Dominion Freight Line, Inc. (NASDAQ:ODFL), executed a sale of 52,000 shares of common stock on February 19, generating approximately $10.1 million in proceeds.
The disposition occurred in two reported trades. According to a Form 4 filed with the Securities and Exchange Commission, Congdon sold 42,000 shares at $194.67 per share and an additional 10,000 shares at $195.17 per share. After those transactions, holdings held through the David S. Congdon Revocable Trust Dated 12/3/91 totaled 712,800 shares.
In a separate filing, Congdon also recorded a gift of 30,415 shares on February 23.
Market context and valuation notes
Old Dominion shares have climbed 23.65% year-to-date. Despite that advance, InvestingPro’s analysis cited in the filings indicates the stock is currently overvalued relative to its Fair Value, and lists the company on its Most Overvalued list. The firm’s data show Old Dominion trading at a price-to-earnings ratio of 40.35.
Recent earnings and operating performance
Old Dominion reported fourth-quarter earnings per share of $1.09, topping Benchmark’s estimate of $1.06. Revenue came in about 1% above expectations. The company posted an operating ratio of 76.7%, a result Benchmark cited as better than anticipated and attributable to cost management in the face of challenging demand.
Analyst reactions and peer notes
Following the quarterly release, several firms adjusted their views and targets. Benchmark reiterated a Hold rating. BMO Capital kept an Outperform rating, noting that the fourth quarter of 2025 beat expectations by 4%.
Truist Securities raised its price target for Old Dominion to $225 from $185 while maintaining a Buy rating, even as it lowered its 2026 earnings-per-share estimates. Jefferies lifted its price target to $195, maintaining a Hold rating and citing early signs of a potential improvement in the freight cycle.
Turning to a peer, Susquehanna downgraded XPO from Positive to Neutral while simultaneously raising its 2026 earnings-per-share estimate by $0.35 to $4.55 and its 2027 estimate by $0.70 to $6.00. Susquehanna set a $210 price target for XPO, suggesting roughly a 5% upside.
What this means now
The insider sale, the subsequent gift filing, the stock’s year-to-date gain, InvestingPro’s valuation flag, and the mixed-but-generally constructive analyst responses together sketch the current picture for Old Dominion and selected peers. The filings and results provide concrete data points for investors monitoring insider activity, valuation measures, and evolving analyst assumptions in the freight sector.