On Oct 24, major Wall Street analysts update their ratings for $Old Dominion Freight Line (ODFL.US)$, with price targets ranging from $160 to $205.
Barclays analyst Brandon Oglenski maintains with a hold rating, and adjusts the target price from $195 to $190.
Wells Fargo analyst Christian Wetherbee maintains with a sell rating, and maintains the target price at $160.
TD Cowen analyst Jason Seidl maintains with a hold rating, and adjusts the target price from $209 to $196.
BMO Capital analyst Fadi Chamoun maintains with a hold rating, and adjusts the target price from $210 to $205.
Benchmark Co. analyst Christopher Kuhn maintains with a hold rating.
Furthermore, according to the comprehensive report, the opinions of $Old Dominion Freight Line (ODFL.US)$'s main analysts recently are as follows:
Old Dominion's Q3 operating results fell slightly short of expectations, influenced by persistent demand softness and ongoing cost inflation.
After Old Dominion posted its quarterly figures, a decline in revenues by 3% from the previous year has put pressure on results due to negative fixed cost leverage. This led to an operating ratio of 72.7%, a year-over-year increase of 210 basis points and 30 basis points above expectations. Forecasts for Q4 along with the fiscal years 2024 and 2025 have been adjusted downwards. Nevertheless, the outlook remains cautiously optimistic as the company's 30% excess capacity positions it to potentially benefit from an upswing in freight activity.
Old Dominion's third-quarter results were marginally below projections concerning EBIT, yet the company maintains its status as a premier transportation entity, distinguished by superior execution. Positioned favorably for future growth cycles, the company's outlook remains somewhat uncertain. Cyclical challenges leading to negative leverage have prompted a revision of the anticipated earnings per share, reflecting a conservative stance on future financial performance.
The firm noted that Old Dominion slightly missed expectations in the third quarter, and observations of October trends indicate a continued weakness in tonnage and pricing going into the fourth quarter.
The firm noted that not all trends are negative. Pricing continues to be sensible, the company is not forfeiting market share, and October's volume marks the most seasonally aligned start to a quarter during the current economic downturn. It has been suggested that short-term estimates have been adjusted to more realistic levels, and the shares retain compelling earnings potential in the event of an economic recovery.
Here are the latest investment ratings and price targets for $Old Dominion Freight Line (ODFL.US)$ from 5 analysts:
Note:
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