Evercore Forecasts Strong Price Appreciation for Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by equities researchers at Evercore from $150.00 to $200.00 in a report issued on Thursday, MarketBeat reports. The firm currently has an “in-line” rating on the transportation company’s stock. Evercore’s price target points to a potential downside of 1.22% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Robert W. Baird cut shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and raised their price target for the company from $166.00 to $204.00 in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $142.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Truist Financial increased their price objective on Old Dominion Freight Line from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Citigroup reiterated a “buy” rating and issued a $196.00 target price (up from $170.00) on shares of Old Dominion Freight Line in a report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $181.50.

Old Dominion Freight Line Stock Up 0.2%

ODFL opened at $202.47 on Thursday. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $209.61. The business has a fifty day simple moving average of $166.70 and a 200-day simple moving average of $151.77. The firm has a market cap of $42.34 billion, a P/E ratio of 41.92, a P/E/G ratio of 10.18 and a beta of 1.28.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $1.23 EPS. Old Dominion Freight Line’s revenue was down 5.7% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the second quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. raised its holdings in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $28,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line News Roundup

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Q4 results modestly beat expectations (EPS $1.09 vs. $1.06) and management set cautious Q1 revenue guidance ($1.25B–$1.30B), signaling the freight market may be stabilizing — investors viewed this as the start of a recovery. Old Dominion Freight Line: Already Trading On A Strong Recovery
• Positive Sentiment: Several analysts raised estimates/price targets after the quarter and called out the beat — the aggregate analyst activity (raises from Jefferies, Evercore, TD Cowen and others) supported upside momentum. Analysts Boost Their Forecasts After Better-Than-Expected Q4 Earnings
• Positive Sentiment: A large, high-profile price-target upgrade (reported coverage on the Morgan Stanley move) produced an outsized intraday jump earlier in the week, amplifying follow-through buying. Old Dominion Climbs 9.89% as Morgan Stanley Hikes PT
• Neutral Sentiment: Industry commentary and management commentary point to early signs of improvement — “freight market starting to feel a little bit better” — but language remains cautious and recovery is described as early/still uneven. Old Dominion: Freight market ‘starting to feel a little bit better’
• Neutral Sentiment: Mixed analyst activity: Citi reaffirmed neutral with a $216 PT while other shops moved ratings/targets (some to “hold”/“in-line”) — this broad but mixed analyst reaction keeps sentiment balanced rather than uniformly bullish. Citi Reaffirms Neutral
• Negative Sentiment: Revenue declined 5.7% Y/Y and LTL tons per day fell ~10.7% — volume weakness remains the primary headwind and a key reason some analysts trimmed ratings or kept conservative targets. Analyst note on volume declines
• Negative Sentiment: Some sell-side moves are negative: Robert W. Baird downgraded to underperform and other firms (Wells Fargo, JPMorgan in context) left targets below the current share price, creating downside risk if volume recovery stalls. Baird Downgrades Old Dominion
• Negative Sentiment: Regional economic commentary (Old Dominion University forecast) points to slowing local growth, a modest macro risk for freight demand if softening extends. Old Dominion University Economic Forecast

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.