Tuesday, September 22, 2020

Old Dominion Freight Line Inc. [ODFL] Stock trading around $197.46 per share: What’s Next?

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Old Dominion Freight Line Inc. [NASDAQ: ODFL] stock went on an upward path that rose over 2.23% on Tuesday, amounting to a one-week price increase of more than 1.64%.

Over the last 12 months, ODFL stock rose by 69.99%. The one-year Old Dominion Freight Line Inc. stock forecast points to a potential downside of -6.01. The average equity rating for ODFL stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $23.04 billion, with 117.61 million shares outstanding and 102.48 million shares in the current float. Compared to the average trading volume of 746.89K shares, ODFL stock reached a trading volume of 1216631 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Old Dominion Freight Line Inc. [ODFL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ODFL shares is $186.27 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ODFL stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Old Dominion Freight Line Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 04, 2020. While these analysts kept the previous recommendation, Stifel raised their target price from $123 to $156. The new note on the price target was released on August 25, 2020, representing the official price target for Old Dominion Freight Line Inc. stock. Previously, the target price had yet another drop from $205 to $138, while Cowen kept a Market Perform rating on ODFL stock.

The Average True Range (ATR) for Old Dominion Freight Line Inc. is set at 5.04, with the Price to Sales ratio for ODFL stock in the period of the last 12 months amounting to 5.85. The Price to Book ratio for the last quarter was 7.79, with the Price to Cash per share for the same quarter was set at 4.44. Price to Free Cash Flow for ODFL in the course of the last twelve months was 38.04 with Quick ratio for the last quarter at 2.00.

ODFL Stock Performance Analysis:

Old Dominion Freight Line Inc. [ODFL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.64. With this latest performance, ODFL shares gained by 3.08% in over the last four-week period, additionally plugging by 73.87% over the last 6 months – not to mention a rise of 69.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ODFL stock in for the last two-week period is set at 53.50, with the RSI for the last a single of trading hit 52.70, and the three-weeks RSI is set at 57.26 for Old Dominion Freight Line Inc. [ODFL]. The present Moving Average for the last 50 days of trading for this stock 189.45, while it was recorded at 195.97 for the last single week of trading, and 152.65 for the last 200 days.

Insight into Old Dominion Freight Line Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Old Dominion Freight Line Inc. [ODFL] shares currently have an operating margin of +20.62 and a Gross Margin at +27.20. Old Dominion Freight Line Inc.’s Net Margin is presently recorded at +14.98.

Return on Total Capital for ODFL is now 28.63, given the latest momentum, and Return on Invested Capital for the company is 20.85. Return on Equity for this stock inclined to 21.37, with Return on Assets sitting at 16.32. When it comes to the capital structure of this company, Old Dominion Freight Line Inc. [ODFL] has a Total Debt to Total Equity ratio set at 3.62. Additionally, ODFL Total Debt to Total Capital is recorded at 3.49, with Total Debt to Total Assets ending up at 2.79. Long-Term Debt to Equity for the company is recorded at 3.20, with the Long-Term Debt to Total Capital now at 3.09.

Reflecting on the efficiency of the workforce at the company, Old Dominion Freight Line Inc. [ODFL] managed to generate an average of $30,615 per employee. Receivables Turnover for the company is 9.38 with a Total Asset Turnover recorded at a value of 1.09.Old Dominion Freight Line Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.

ODFL Stock EPS

With the latest financial reports released by the company, Old Dominion Freight Line Inc. posted 1.37/share EPS, while the average EPS was predicted by analysts to be reported at 1.41/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ODFL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Old Dominion Freight Line Inc. go to 10.08%.

Old Dominion Freight Line Inc. [ODFL] Insider Position Details

There are presently around $17,255 million, or 75.70% of ODFL stock, in the hands of institutional investors. The top three institutional holders of ODFL stocks are: VANGUARD GROUP INC with ownership of 11,322,904, which is approximately -2.498% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 10,339,577 shares of the stock with an approximate value of $2.04 billion in ODFL stocks shares; and BLACKROCK INC., currently with $1.43 billion in ODFL stock with ownership of nearly 10.19% of the company’s market capitalization.

Positions in Old Dominion Freight Line Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 311 institutional holders increased their position in Old Dominion Freight Line Inc. [NASDAQ:ODFL] by around 7,620,661 shares. Additionally, 246 investors decreased positions by around 8,594,216 shares, while 53 investors held positions by with 71,170,778 shares. The mentioned changes placed institutional holdings at 87,385,655 shares, according to the latest SEC report filing. ODFL stock had 99 new institutional investments in for a total of 2,000,995 shares, while 48 institutional investors sold positions of 563,374 shares during the same period.

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