Fintel reports that on April 29, 2024, Vertical Research upgraded their outlook for Old Dominion Freight Line (NasdaqGS:ODFL) from Sell to Hold.
Analyst Price Forecast Suggests 19.39% Upside
As of April 17, 2024, the average one-year price target for Old Dominion Freight Line is 219.97. The forecasts range from a low of 176.75 to a high of $273.00. The average price target represents an increase of 19.39% from its latest reported closing price of 184.24.
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The projected annual revenue for Old Dominion Freight Line is 6,687MM, an increase of 13.65%. The projected annual non-GAAP EPS is 12.78.
What is the Fund Sentiment?
There are 1,788 funds or institutions reporting positions in Old Dominion Freight Line. This is an increase of 71 owner(s) or 4.14% in the last quarter. Average portfolio weight of all funds dedicated to ODFL is 0.32%, an increase of 10.99%. Total shares owned by institutions increased in the last three months by 6.77% to 98,522K shares. 
The put/call ratio of ODFL is 0.72, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 6,325K shares representing 2.91% ownership of the company. In its prior filing, the firm reported owning 6,244K shares , representing an increase of 1.28%. The firm decreased its portfolio allocation in ODFL by 7.98% over the last quarter.
Bank of New York Mellon holds 5,940K shares representing 2.73% ownership of the company. In its prior filing, the firm reported owning 3,052K shares , representing an increase of 48.62%. The firm decreased its portfolio allocation in ODFL by 88.99% over the last quarter.
Capital Research Global Investors holds 4,145K shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 5,346K shares , representing a decrease of 28.95%. The firm decreased its portfolio allocation in ODFL by 31.36% over the last quarter.
AGTHX – GROWTH FUND OF AMERICA holds 3,112K shares representing 1.43% ownership of the company. In its prior filing, the firm reported owning 3,358K shares , representing a decrease of 7.91%. The firm decreased its portfolio allocation in ODFL by 6.95% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,086K shares representing 1.42% ownership of the company. In its prior filing, the firm reported owning 3,058K shares , representing an increase of 0.89%. The firm decreased its portfolio allocation in ODFL by 10.68% over the last quarter.
Old Dominion Freight Line Background Information
(This description is provided by the company.)
Old Dominion Freight Line, Inc. is a leading, less-than-truckload (‘LTL’), union-free motor carrier providing regional, inter-regional and national LTL services through a single integrated organization. Its service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. Through strategic alliances, the Company also provides LTL services throughout North America. In addition to its core LTL services, the Company offers a range of value-added services including container drayage, truckload brokerage and supply chain consulting.
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This story originally appeared on Fintel.
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