Anticipated Financial Outlook: A Look at Old Dominion's Upcoming Financial Report
In the latest quarterly results, Old Dominion Freight Line (ODFL) has maintained its premium reputation for operational efficiency, strong on-time delivery performance, and premium service. This has led to a continued positive outlook on the company's stock, with a consensus rating of 'Buy' from 22 analysts covering the stock.
The average price target for ODFL stands at around $175.95 to $176.35, representing an approximately 2.7% to 3% upside from current trading levels. The price target range spans from a low of $150 to a high of about $205.
Recent price target revisions show a mixed picture. While Truist Financial upgraded their target from $175 to $180 with a 'Buy' rating, some firms like Evercore ISI and JPMorgan have lowered their targets and ratings to 'In-line' or 'Neutral.' However, Goldman Sachs has upgraded their rating from 'Neutral' to 'Buy' and increased their price target to $200.
The current analyst sentiment leans towards a 'Hold/Buy' recommendation, with 13 analysts suggesting 'Hold,' 8 recommending 'Buy,' and only one advising a 'Moderate Buy.' Two analysts advocate a 'Strong Sell' rating.
In terms of recent price action and near-term expectations, the stock price has recently risen to about $171. Short-term technical outlooks suggest a buying opportunity but with caution near resistance levels around $171. Analyst sentiment and price targets indicate expectations of moderate growth in ODFL's stock price over the next 12 months.
Old Dominion Freight Line, a U.S.-based less-than-truckload (LTL) freight carrier, posted revenue of $1.4 billion in Q1 2022, down 5.8% year-over-year but ahead of Wall Street expectations. Net income for the quarter slipped 12.9% to $254.7 million, reflecting margin headwinds.
Looking ahead, ODFL is set to release its second-quarter results on Wednesday, Jul. 30. The company has matched or surpassed the Street's earnings estimates in each of the past four quarters. On April 23, ODFL's stock surged marginally following the release of its better-than-expected Q1 results.
Analysts expect ODFL to report a non-GAAP profit of $1.30 per share in the second quarter, down 12.2% from $1.48 per share in the year-ago quarter. For FY2025, ODFL is expected to deliver a non-GAAP EPS of $5.16, down 5.8% from $5.48 in fiscal 2024. However, in fiscal 2026, ODFL's earnings are expected to surge 17.6% year-over-year to $6.07 per share.
ODFL operates a nationwide network of service centers and offers regional, inter-regional, and national LTL services. The company has a market cap of $35.9 billion. It's important to note that no position in Old Dominion Freight Line was held by Kritika Sarmah at the time of publication.
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In the context of Old Dominion Freight Line (ODFL), some analysts are positive about its future, as shown by Truist Financial upgrading their price target to $180 and Goldman Sachs upgrading their rating to 'Buy' and increasing their price target to $200. On the other hand, firms like Evercore ISI and JPMorgan have lowered their targets and ratings, signaling a mixed outlook in investing in ODFL's business and finance sector.
