Old Dominion Freight Line Stock (NASDAQ: ODFL)

Dernières nouvelles pour Old Dominion Freight Line (NASDAQ:ODFL) Stock

Old Dominion Freight Line

Old Dominion Freight Line is the second-largest less-than-truckload carrier in the United States, with more than 250 service centers and 11,000-plus tractors. It is one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns are head and shoulders above its peers. Strategic initiatives revolve around boosting network density through market share gains and maintaining industry-leading service (including ultralow cargo claims) via steadfast infrastructure investment.

Old Dominion Freight Line, Inc. - Common Stock

Old Dominion Freight Line Inc

Barclays analyst Brandon Oglenski maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Equal-Weight and raises the price target from $190 to $220.

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ODFL

Barclays Maintains Equal-Weight on Old Dominion Freight Line, Raises Price Target to $220

Citigroup analyst Ariel Rosa maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Neutral and raises the price target from $201 to $241.

Citigroup Maintains Neutral on Old Dominion Freight Line, Raises Price Target to $241

Argus Research analyst John Eade downgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Buy to Hold.

Downgrades

Argus Research Downgrades Old Dominion Freight Line to Hold

Old Dominion Freight Line Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) just reaffirmed its status as <a href="https://www.benzinga.com/topic/shipping">the gold standard</a> in less-than-truckload (LTL) freight, according to JPMorgan analyst Brian Ossenbeck, who recently pored over insights from the 2024 Mastio Survey.
<h2 class="wp-block-heading">Old Dominion's Playbook: The Industry's Gold Standard For 15 Years</h2>
The survey, with feedback from roughly 1,600 shippers, showcases Old Dominion's dominance in an industry where rivals are scrambling to catch up.
Despite the buzz around newer strategies, Ossenbeck's analysis indicates that Old Dominion still has a substantial lead. Peers like XPO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) and Saia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) may be adopting aspects of Old Dominion's "playbook". They&#8217;ve been prioritizing service, improving network efficiency, and leveraging pricing power. But even after implementing these strategies, they've only narrowed the gap by 7%. 
Ossenbeck puts it simply—executing Old Dominion's playbook is easier said than done.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41487850/old-dominion-freight-line-q3-misses-on-earnings-and-revenue-as-economic-headwinds-weigh">Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh</a>
<h2 class="wp-block-heading">ArcBest, XPO Make Gains, While TForce, Saia Lag</h2>
Among the pack, ArcBest Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) and XPO made notable strides in 2024. 
ArcBest showed the largest service improvement, with strong gains in on-time pickup and delivery, key metrics for shippers. 
XPO, with its LTL 2.0 strategy, also achieved robust performance gains, especially with smaller shippers. Meanwhile, Estes held steady, maintaining a high service level but not outpacing peers in improvement.
At the other end of the spectrum, TForce Freight is struggling with cost efficiencies and service expectations. Saia, despite a network expansion, saw its service performance slip, a trend Ossenbeck expects to stabilize in the coming year.
And then there's FedEx Freight – which has the second-slowest performance improvement among national carriers.
For 15 years running, Old Dominion has been the reigning champ in LTL freight, while peers have been taking notes. According to Ossenbeck, OD's mastery in service, pricing, and network efficiency keeps it miles ahead – leaving everyone else playing catch-up.
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Photo: Jon Tetzlaff/Shutterstock.com

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Long Ideas

Trading Ideas

ARCB

SAIA

Old Dominion Sets Freight Standard As Rivals Trail Behind

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) has outperformed the market over the past 15 years by 18.66% on an annualized basis producing an average annual return of 30.76%. Currently, Old Dominion Freight Line has a market capitalization of $43.14 billion. 
Buying $1000 In ODFL: If an investor had bought $1000 of ODFL stock 15 years ago, it would be worth $53,079.78 today based on a price of $201.31 for ODFL at the time of writing.
<h3>Old Dominion Freight Line's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730233820_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Old Dominion Freight Line 15 Years Ago Would Be Worth This Much Today

TD Cowen analyst Jason Seidl maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Hold and lowers the price target from $203 to $196.

TD Cowen Maintains Hold on Old Dominion Freight Line, Lowers Price Target to $196

Stifel analyst J. Bruce Chan maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Hold and lowers the price target from $197 to $178.

Stifel Maintains Hold on Old Dominion Freight Line, Lowers Price Target to $178

Susquehanna analyst Bascome Majors maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Positive and lowers the price target from $225 to $218.

Susquehanna Maintains Positive on Old Dominion Freight Line, Lowers Price Target to $218

Wells Fargo analyst Christian Wetherbee maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Underweight and lowers the price target from $170 to $160.

Wells Fargo Maintains Underweight on Old Dominion Freight Line, Lowers Price Target to $160

BMO Capital analyst Fadi Chamoun maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Market Perform and lowers the price target from $210 to $205.

BMO Capital Maintains Market Perform on Old Dominion Freight Line, Lowers Price Target to $205

Barclays analyst Brandon Oglenski maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Equal-Weight and lowers the price target from $195 to $190.

Barclays Maintains Equal-Weight on Old Dominion Freight Line, Lowers Price Target to $190

Baird analyst Garrett Holland maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Outperform and lowers the price target from $204 to $200.

Baird Maintains Outperform on Old Dominion Freight Line, Lowers Price Target to $200

Wall Street is on track for its third consecutive day of losses as investors grow cautious about risky assets, awaiting more clarity on U.S. fiscal and monetary policies and scrutinizing the latest <a href="https://www.benzinga.com/earnings">batch of corporate earnings.</a>
Both equities and commodities took a hit on Wednesday, while the U.S. dollar gained strength, attracting investor flows as traders moved to safer cash positions.
The U.S. dollar index, as tracked by the the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.5%, reaching levels last seen in late July. 
At midday in New York, the S&amp;P 500 was down 0.7%, attempting to hold support around the 5,800-point level. The Dow Jones also dropped 0.7%, and tech stocks, along with small caps, fared worse, sliding by 0.9%.
On the data front, mortgage applications declined for the fourth straight week, reflecting continued pressure <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41488744/mortgage-applications-fall-for-fourth-straight-week-as-high-rates-squeeze-homebuy">from elevated borrowing costs.</a>
Existing home sales fell by 1% in September to a seasonally adjusted annualized rate of 3.84 million, the lowest level since October 2010. This follows an upwardly revised 3.88 million in August and missed forecasts of 3.9 million.
Despite weak housing data, real estate stocks showed surprising resilience. The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and the SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) moved higher after two straight sessions of losses.
Gold prices, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), fell more than 1%, pulling mining stocks down with it. Silver plummeted over 3%, retreating from 12-year highs reached on Tuesday.
Oil prices slipped by 1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbled 2%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,815.02</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,625.59</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,213.10</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,196.24</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated 12:00 p.m. ET </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.6% to $579.72.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.7% lower to $426.41.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1% to $491.16.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% $219.80.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, up 0.6%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell 2.4% after reporting a worse-than-expected losses<a href="https://www.benzinga.com/news/earnings/24/10/41486950/boeing-q3-earnings-revenue-and-profit-decline-cultural-challenges-ceo-ortberg-vows-transformation"> last quarter</a>.</li>
</ul>
Other stocks reacting to earnings included:
<ul>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), up 3.5%.</li>
<li>Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), up 3.9%.</li>
<li>Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), down over 7%.</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), up over 6%.</li>
<li>Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), down over 7%.</li>
<li>East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>), up over 7%.</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), down over 13%.</li>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 2.2%. </li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), down 2.9%.</li>
<li>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), down 0.1%. </li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), up 3.8%. </li>
<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), down 3.7%. </li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>), down 0.9%. </li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), down 1.6%. </li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), down 2.6%. </li>
<li>Vertiv Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>), down 2.8%. </li>
<li>Old Dominion Freight Line Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), down 4.8%. </li>
</ul>
Large-cap companies reporting earnings after the close include Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>), Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), Raymond James Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>). 
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Wall Street Slumps For Third Straight Day As Investor Sentiment Fades, Dollar Strength Resumes, Boeing Disappoints: What's Driving Markets Wednesday?

WIIM

Old Dominion Freight Line shares are trading lower after the company reported worse-than-expected Q3 financial results.

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading lower following <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41483669/old-dominion-freight-line-reports-third-quarter-2024-earnings-per-diluted-share-of-1-43" rel="noreferrer noopener">third-quarter results</a>.
The company reported a revenue decline of&nbsp;3.0%&nbsp;year-over-year to&nbsp;$1.470 billion, missing the consensus of&nbsp;$1.492 billion. EPS was&nbsp;$1.43,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$1.47.</a>
The revenue decrease is primarily due to a&nbsp;4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.
The decline in LTL tons per day is attributed to a 3.4% drop in LTL shipments per day and a 1.4% reduction in LTL weight per shipment.
LTL revenue per hundredweight, excluding fuel surcharges, rose 4.6% in the quarter.
Operating income fell 9.7%&nbsp;to&nbsp;$401.9 million, with an operating ratio of&nbsp;72.7%, compared to&nbsp;70.6%&nbsp;a year ago.
Old Dominion&#8217;s operating cash flow was&nbsp;$446.5&nbsp;million&nbsp;for the&nbsp;third quarter&nbsp;and&nbsp;$1.3&nbsp;billion&nbsp;for the first nine months.
As of September 30, the company had&nbsp;$74.2&nbsp;million&nbsp;in cash and equivalents. Capital expenditures stood at&nbsp;$242.8&nbsp;million&nbsp;in the&nbsp;third&nbsp;quarter.
For the first nine&nbsp;months of this year, Old Dominion returned capital to shareholders, spending&nbsp;$824.8&nbsp;million&nbsp;on share repurchases, including a&nbsp;$200 million&nbsp;accelerated program, and paying&nbsp;$168.2&nbsp;million&nbsp;in dividends.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, &#8220;Old Dominion&#8217;s third quarter financial results reflect ongoing softness in the domestic economy. The challenging operating environment, and strong comparable results for the third quarter of 2023, resulted in the first year-over-year decrease in our quarterly revenue and earnings per diluted share this year.&#8221;
&#8220;The decrease in revenue had a deleveraging effect on many of our operating expenses, which contributed to the 110 basis point increase in our overhead costs as a percent of revenue. Direct operating costs also increased as a percent of revenue despite our team operating very efficiently during the third quarter.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 5.79% at $187.99 premarket at the last check Wednesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407450/old-dominion-freight-line-faces-sluggish-industrial-demand-analyst-downgrades-stock" target="_blank" rel="noreferrer noopener">Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock</a></li>
</ul>

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iShares Dow Jones Transportation Average Index Fund

ProShares Trust ProShares Supply Chain Logistics ETF

SUPL

Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) reported quarterly earnings of $1.43 per share which missed the analyst consensus estimate of $1.47 by 2.72 percent. The company reported quarterly sales of $1.470 billion which missed the analyst consensus estimate of $1.492 billion by 1.51 percent. This is a 2.97 percent decrease over sales of $1.515 billion the same period last year.

Earnings Misses

Old Dominion Freight Line Q3 2024 GAAP EPS $1.43 Misses $1.47 Estimate, Sales $1.470B Miss $1.492B Estimate

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) will release its quarterly earnings report on Wednesday, 2024-10-23. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Old Dominion Freight Line to report an earnings per share (EPS) of $1.44.
Investors in Old Dominion Freight Line are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.03, leading to a 5.69% increase in the share price on the subsequent day.

<img src="https://www.benzinga.com/files/images/story/2024/1729612932_0.png" alt="eps graph" />
<h3>Performance of Old Dominion Freight Line Shares</h3>
Shares of Old Dominion Freight Line were trading at $198.05 as of October 21. Over the last 52-week period, shares are up 6.41%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ODFL/earnings">To track all earnings releases for Old Dominion Freight Line visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Examining the Future: Old Dominion Freight Line's Earnings Outlook

Stifel analyst J. Bruce Chan downgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Buy to Hold and lowers the price target from $209 to $197.

Stifel Downgrades Old Dominion Freight Line to Hold, Lowers Price Target to $197

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading slightly lower on Friday. BMO Capital Markets analyst Fadi Chamoun downgraded the company to Market Perform from Outperform and lowered the price <a target="_blank" href="https://www.benzinga.com/quote/USM/analyst-ratings" rel="noreferrer noopener">target to $210 from $214</a>.
The analyst writes that consensus/BMOe F2025 earnings expectations have decreased by 13%/15%. Demand remains muted, and the timeline for a recovery in freight markets continues to be delayed.
The downgrade reflects anticipation of further negative revisions as the recovery timeline for freight markets extends.
Chamoun says that industrial demand, which represents two-thirds of LTL traffic, remains sluggish.
The analyst writes that although loosening monetary policy is expected to boost volume eventually, the delay between lower rates and a resurgence in demand extends the potential recovery timeline into H2 2025 or beyond.
With multiples at record highs, the near-term margin of safety is limited, adds the analyst.
The analyst reduced the below-consensus forecast for FY25 by 2.5% to $6.00 (versus consensus at $6.27) and for FY26 by 3.3% to $7.06 (compared to consensus of $7.15).
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 0.82% at $199.86 at the last check Friday.
Photo via Shutterstock
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Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup analyst Andrew Schmidt downgraded the rating for Q2 Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QTWO#NYSE">QTWO</a>) from Buy to Neutral but raised the price target from $72 to $90. Q2 Holdings shares closed at $80.42 on Thursday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/QTWO/analyst-ratings">how </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">other analysts view this stock</a>.</li>
<li>Lake Street analyst Jacob Stephan downgraded Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) from Buy to Hold and announced a $10 price target. Zuora shares closed at $9.42 on Thursday. <a href="https://www.benzinga.com/quote/ZUO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Scotiabank analyst Maher Yaghi downgraded T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) from Sector Outperform to Sector Perform but increased the price target from $215.5 to $236. T-Mobile US shares closed at $219.76 on Thursday. <a href="https://www.benzinga.com/quote/TMUS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital analyst Fadi Chamoun downgraded the rating for Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Outperform to Market Perform and lowered the price target from $214 to $210. Old Dominion shares closed at $203.49 on Thursday. <a href="https://www.benzinga.com/quote/ODFL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5df0d202bffdfc000193c4f3/mike-matson">Needham analyst Mike Matson</a> downgraded the rating for Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) from Buy to Hold and maintained the price target of $86. Boston Scientific shares closed at $87.00 on Thursday. <a href="https://www.benzinga.com/quote/BSX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BSX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="510" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-1024x510.png" alt="" class="wp-image-602750" style="width:673px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-1024x510.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-768x382.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41379749/abbvie-is-doing-very-well-but-jim-cramers-favorite-abbott-laboratories">AbbVie Is Doing &#8216;Very Well&#8217; But Jim Cramer&#8217;s Favorite? Abbott Laboratories</a></li>
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BIIB

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CELH

CORT

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DTRUY

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FAST

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FSLR

FTNT

HLNE

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Press Releases

Old Dominion Freight Line Provides Update for Second Quarter 2024

Old Dominion Freight Line to Webcast Second Quarter 2024 Conference Call

Old Dominion Freight Line Releases 2023 ESG Data Supplement

Old Dominion Freight Line Announces $0.26 Per Share Quarterly Cash Dividend

Old Dominion Freight Line Reports Second Quarter 2024 Earnings Per Diluted Share of $1.48

Old Dominion Freight Line Provides Update for Third Quarter 2024

Old Dominion Freight Line to Webcast Third Quarter 2024 Conference Call

Old Dominion Freight Line Reports Third Quarter 2024 Earnings Per Diluted Share of $1.43

Old Dominion Freight Line, Inc. Announces General Rate Increase

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