12 Worst Depressed Stocks To Buy Now

7. Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

52 Week Range: 159.35 – 233.26

Current Share Price: $162.50

Analyst Upside Potential: 20.62%

1-Year Performance: -22.59%

Number of Hedge Fund Holders: 50 

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a leading less-than-truckload motor carrier in North America. The company specializes in transporting smaller freight loads that do not require an entire trailer. It provides regional, inter-regional, and national LTL services through a union-free, integrated network of over 255 service centers across the continental United States.

On March 10, Barclays lowered its price target for the stock from $210 to $195, while maintaining an Equal Weight rating on the stock. The firm noted that investor sentiment across the transportation sector remains largely neutral, with concerns that US tariffs could lead to slower growth in 2025.

The fiscal fourth quarter results for 2024, also reflect the ongoing challenges of a sluggish domestic economy. This led to a 7.3% decline in revenue compared to the same period in 2023. Despite this, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) maintained consistent market share and strong customer relationships. The company demonstrated resilience by controlling costs and operating efficiently despite lower network density and inflationary pressures. It is one of the worst depressed stocks to buy now.

Weitz Partners III Opportunity Fund stated the following regarding Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its Q4 2024 investor letter:

“Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was another portfolio exit during the quarter. We began building an initial position in ODFL during the second quarter of this year, but early stock price appreciation short-stopped the position building process. As a result, this quarter we elected to realize gains on our small position.”