Old Dominion Freight Line (ODFL) Stock Forecast & Price Target

$222.91 -7.27 (-3.16%)

(As of 11/7/2024 ET)

Old Dominion Freight Line - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 20 Analyst Ratings

Sell
1

Hold
14

Buy
5

Based on 20 Wall Street analysts who have issued ratings for Old Dominion Freight Line in the last 12 months, the stock has a consensus rating of "Hold." Out of the 20 analysts, 1 has given a sell rating, 14 have given a hold rating, 4 have given a buy rating, and 1 has given a strong buy rating for ODFL.

Consensus Price Target

$196.39
-11.90% Downside

According to the 20 analysts' twelve-month price targets for Old Dominion Freight Line, the average price target is $196.39. The highest price target for ODFL is $218.00, while the lowest price target for ODFL is $160.00. The average price target represents a forecasted downside of -11.90% from the current price of $222.91.

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ODFL Analyst Ratings Over Time

Type	Current Forecast 11/8/23 to 11/7/24	1 Month Ago 10/9/23 to 10/8/24	3 Months Ago 8/10/23 to 8/9/24	1 Year Ago 11/8/22 to 11/8/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	4 Buy rating(s)	6 Buy rating(s)	6 Buy rating(s)	8 Buy rating(s)
Hold	14 Hold rating(s)	12 Hold rating(s)	12 Hold rating(s)	9 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$196.39	$201.39	$202.78	$196.79
Forecasted Upside	-11.90% Downside	4.80% Upside	4.94% Upside	0.88% Upside
Consensus Rating	Hold	Hold	Hold	Hold

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ODFL Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ODFL Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Old Dominion Freight Line Stock vs. The Competition

Type	Old Dominion Freight Line	Transportation Companies	S&P 500
Consensus Rating Score	2.25	2.57	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	-11.90% Downside	30.71% Upside	7.42% Upside
News Sentiment Rating	Positive News See Recent ODFL News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/24/2024	TD Cowen 4 of 5 stars		Lower Target	Hold ➝ Hold	$203.00 ➝ $196.00	+2.48%
10/24/2024	Susquehanna 2 of 5 stars		Lower Target	Positive ➝ Positive	$225.00 ➝ $218.00	+14.42%
10/24/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Underweight ➝ Underweight	$170.00 ➝ $160.00	-16.28%
10/24/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	F. Chamoun Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Market Perform ➝ Market Perform	$210.00 ➝ $205.00	+7.45%
10/24/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$195.00 ➝ $190.00	+0.70%
10/24/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$204.00 ➝ $200.00	+6.01%
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10/21/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$209.00 ➝ $197.00	-1.27%
10/9/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$228.00 ➝ $216.00	+10.88%
10/9/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Rosa Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$206.00	+7.20%
10/3/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Chappell Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	In-Line ➝ In-Line	$199.00 ➝ $188.00	-2.33%
9/11/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
9/6/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$193.00 ➝ $189.00	+2.36%
9/6/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$210.00 ➝ $206.00	+12.30%
9/5/2024	Stephens Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Overweight ➝ Overweight	$214.00 ➝ $214.00	+16.03%
7/25/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$190.00 ➝ $209.00	+0.51%
7/8/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$174.00 ➝ $168.00	-6.42%
5/8/2024	Baird R W Subscribe to MarketBeat All Access for the recommendation accuracy rating	G. Holland Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
4/29/2024	Vertical Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sell ➝ Hold	$175.00	-4.07%
4/25/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$202.00 ➝ $205.00	+5.66%
11/27/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$237.50 ➝ $193.00	-4.53%
7/27/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$152.00 ➝ $187.50	-10.87%
6/30/2023	3M Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
6/30/2023	VNET Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
6/12/2023	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$175.00	+14.31%
4/27/2023	22nd Century Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
4/27/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
2/2/2023	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform	$145.50 ➝ $163.00	-13.33%
2/2/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform	$133.50 ➝ $166.00	-9.69%
2/2/2023	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight	$162.50 ➝ $200.00	+8.81%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 08:28 PM ET.

Should I Buy Old Dominion Freight Line Stock? ODFL Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, October 27, 2024. Please send any questions or comments about these Old Dominion Freight Line pros and cons to contact@marketbeat.com.

Old Dominion Freight Line
Bull Case

Here are some ways that investors could benefit from investing in Old Dominion Freight Line, Inc.:

Old Dominion Freight Line, Inc. has a strong market capitalization of $42.32 billion, indicating stability and potential for growth.
The company offers regional, inter-regional, and national less-than-truckload services, catering to a wide range of transportation needs.
Recent insider selling by Chairman David S. Congdon at an average price of $195.17 and $201.30 could indicate confidence in the company's future performance.
Analysts have set a consensus target price of $200.83, suggesting potential upside for investors based on current market evaluations.
Old Dominion Freight Line, Inc. has received positive ratings from analysts, with some giving the stock a buy or strong buy rating, indicating optimism about its future prospects.

Old Dominion Freight Line
Bear Case

Investors should be bearish about investing in Old Dominion Freight Line, Inc. for these reasons:

The stock price of Old Dominion Freight Line, Inc. has been trading down, showing a 2.0% decrease recently, which may raise concerns about short-term performance.
Chairman David S. Congdon's repeated selling of company shares could be viewed as a lack of long-term confidence in the stock.
Some analysts have issued hold ratings for the company, indicating a cautious stance on its future growth potential.
Price targets from analysts have been revised downwards, suggesting a potential lack of immediate upside for investors.
The price-to-earnings-growth ratio of 4.08 may indicate that the stock is currently overvalued relative to its growth prospects.

ODFL Forecast - Frequently Asked Questions

: According to the research reports of 20 Wall Street equities research analysts, the average twelve-month stock price forecast for Old Dominion Freight Line is $196.39, with a high forecast of $218.00 and a low forecast of $160.00.
: 20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Old Dominion Freight Line in the last year. There is currently 1 sell rating, 14 hold ratings, 4 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" ODFL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ODFL, but not buy additional shares or sell existing shares.
: According to analysts, Old Dominion Freight Line's stock has a predicted downside of -11.90% based on their 12-month stock forecasts.
: Over the previous 90 days, Old Dominion Freight Line's stock had 2 downgrades by analysts.
: Old Dominion Freight Line has been rated by research analysts at Bank of America, Barclays, Benchmark, BMO Capital Markets, Citigroup, Evercore ISI, JPMorgan Chase & Co., Robert W. Baird, Stephens, Stifel Nicolaus, Susquehanna, TD Cowen, The Goldman Sachs Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Old Dominion Freight Line less than other "transportation" companies. The consensus rating for Old Dominion Freight Line is Hold while the average consensus rating for "transportation" companies is Moderate Buy. Learn more on how ODFL compares to other companies.

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This page (NASDAQ:ODFL) was last updated on 11/7/2024 by MarketBeat.com Staff

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Old Dominion Freight Line (ODFL) Stock Forecast & Price Target