Old Dominion Freight Line Gets Price Target Cuts By Analysts After Downbeat Q1 Results

Old Dominion Freight Line, Inc. ODFL reported worse-than-expected Q1 results..

Old Dominion Freight revenues fell 3.7% year-over-year to $1.44 billion on lower volumes, missing the consensus of $1.48 billion. EPS of $2.58 missed the consensus of $2.69.

The company lowered its aggregate capital expenditure guidance for FY23 to approximately $700 million from the earlier forecast of $800 million.

Old Dominion shares fell 10% to close at $305.52 on Wednesday.

These analysts made changes to their price targets on Old Dominion following earnings announcement.

• Credit Suisse cut the price target on Old Dominion from $322 to $306. Credit Suisse analyst Ariel Rosa maintained an Underperform rating.
• Raymond James slashed the price target on Old Dominion from $390 to $350. Raymond James analyst Patrick Tyler Brown maintained an Outperform rating.
• Baird lowered the Old Dominion price target from $340 to $320. Baird analyst Garrett Holland maintained a Neutral rating on the stock.

Read More: Meta Platforms, Amazon And 3 Stocks To Watch Heading Into Thursday