Old Dominion Freight Line Inc. (NASDAQ:ODFL) finished Friday with an addition of $4.83 to close at $410.78, an upside of 1.19 percent. An average of 571,100 shares of common stock have been traded in the last five days. There was a gain of $3.67 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 971,530 shares traded, while the 50-day average volume stands at 918,960.
ODFL stock has increased by 8.86% in the last month. The company shares reached their 1-month lowest point of $371.14 on 07/12/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $240.00 and a high of $429.24 in 52 weeks. It has reached a new high 17 times so far this year and achieved 44.75% or $127.00 in price. In spite of this, the price is down -4.30% from the 52-week high.
Insider Transactions
ODFL stock investors should be aware that Old Dominion Freight Line Inc. (ODFL) stock had its last reported insider trading activity 166 days ago on Feb 27. In this transaction, the insider spent $416,410. Executive Chairman, CONGDON DAVID S, disposed of 20,000 shares at a price of $351.82 on Feb 16. The insider now owns more than $7,036,400 worth of shares. Prior to that, Director Gabosch Bradley R went on to Sale 2,700 shares at $358.21 each on Feb 14. An amount of $967,167 was transacted.
Valuation Metrics
Old Dominion Freight Line Inc. (ODFL) has a trailing price-to-earnings (P/E) ratio of 35.70. The stock’s beta is 1.13. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.68, the price-to-book (PB) ratio at 12.06, and the price-to-cash flow ratio at 58.44.
Financial Health
The quick ratio of Old Dominion Freight Line Inc. for the three months ended June 29 was 1.60, and the current ratio was 1.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.02 and a total debt to equity ratio of 0.03 for the quarter ending June 29. Old Dominion Freight Line Inc.’s EBITDA margin for the year ending June 29 is 34.32%, while its operating margin for the same period stands at 30.90%. Its gross profit as reported stood at $6.1 billion compared to revenue of $6.26 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Old Dominion Freight Line Inc.’s return on assets was 28.40%.
Earnings Surprise
For the three-month period that ended June 29, Old Dominion Freight Line Inc. had $59.97 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $292.36 million in the quarter, while revenues were shrunk -28.64%. The analyst consensus anticipated Old Dominion Freight Line Inc.’s latest quarter earnings to come in at $2.65 per share, but it turned out to be $2.65, a 0.00% surprise. For the quarter, EBITDA amounted to $471.38 million. Shareholders own equity worth $109.27 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Old Dominion Freight Line Inc. (ODFL) price momentum. RSI 9-day as of the close on 11 August was 57.87%, suggesting the stock is Neutral, with historical volatility in this time frame at 18.98%.
As of today, ODFL’s price is $407.33 +0.90% or $3.67 from its 5-day moving average. ODFL is currently trading +8.74% higher than its 20-day SMA and +23.20% higher than its 100-day SMA. However, the stock’s current price level is +32.32% above the SMA50 and +52.58% above the SMA200.
The stochastic %K and %D were 52.23% and 54.76%, respectively, and the average true range (ATR) was 11.96. With the 14-day stochastic at 53.63% and the average true range at 12.07, the RSI (14) stands at 60.51%. The stock has reached -2.61 on the 9-day MACD Oscillator while the 14-day reading was at -4.89.
Analyst Ratings
Barclays launched coverage on Old Dominion Freight Line Inc. (NASDAQ: ODFL) in its analyst report released on July 17, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for Old Dominion Freight Line Inc. (ODFL) among analysts is Hold. According to current brokerage recommendations, 4 brokerage firms advise that investors sell ODFL, while 11 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 others rate it as a “buy”.
What is ODFL’s price target for the next 12 months?
Analysts predict a range of price targets between $320.00 and $475.00, with a median target of $410.50. Taking a look at these predictions, the average price target given by analysts for Old Dominion Freight Line Inc. (ODFL) stock is $412.15.
