Should You Invest in Old Dominion Freight Line, Inc. (ODFL) Now?

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has a higher price-to-earnings ratio of 39.04x compared to its average ratio, The 36-month beta value for ODFL is at 1.03. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 1 rating it as “overweight,” 9 as “hold,” and 1 as “sell.”

The public float for ODFL is 187.52M, and currently, shorts hold a 2.24% of that float. The average trading volume for ODFL on April 04, 2024 was 1.37M shares.

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ODFL) stock’s latest price update

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) has seen a rise in its stock price by 1.51 in relation to its previous close of 216.57. However, the company has experienced a 1.47% gain in its stock price over the last five trading sessions. Business Wire reported 2024-03-27 that THOMASVILLE, N.C.–(BUSINESS WIRE)–Old Dominion Freight Line, Inc. (Nasdaq: ODFL) announced today that it plans to release its first quarter 2024 financial results before opening of trading on Wednesday, April 24, 2024. The Company will also hold a conference call to discuss its financial results and outlook at 10:00 a.m. (Eastern Time) on Wednesday, April 24, 2024. An online, real-time webcast of Old Dominion’s quarterly conference call will be available at ir.odfl.com on Wednesday, April 24,.

ODFL’s Market Performance

ODFL’s stock has risen by 1.47% in the past week, with a monthly drop of -1.47% and a quarterly rise of 10.54%. The volatility ratio for the week is 2.69% while the volatility levels for the last 30 days are 2.56% for Old Dominion Freight Line, Inc. The simple moving average for the past 20 days is 1.55% for ODFL’s stock, with a 9.15% simple moving average for the past 200 days.

Analysts’ Opinion of ODFL

Many brokerage firms have already submitted their reports for ODFL stocks, with JP Morgan repeating the rating for ODFL by listing it as a “Neutral.” The predicted price for ODFL in the upcoming period, according to JP Morgan is $465 based on the research report published on March 11, 2024 of the current year 2024.

BofA Securities, on the other hand, stated in their research note that they expect to see ODFL reach a price target of $446, previously predicting the price at $443. The rating they have provided for ODFL stocks is “Neutral” according to the report published on March 06th, 2024.

ODFL Trading at 3.32% from the 50-Day Moving Average

After a stumble in the market that brought ODFL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.80% of loss for the given period.

Volatility was left at 2.56%, however, over the last 30 days, the volatility rate increased by 2.69%, as shares surge +2.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.45% upper at present.

During the last 5 trading sessions, ODFL rose by +1.47%, which changed the moving average for the period of 200-days by +33.90% in comparison to the 20-day moving average, which settled at $216.73. In addition, Old Dominion Freight Line, Inc. saw 8.47% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ODFL starting from Kasarda John D., who sale 7,972 shares at the price of $442.15 back on Feb 27 ’24. After this action, Kasarda John D. now owns 6,770 shares of Old Dominion Freight Line, Inc., valued at $3,524,857 using the latest closing price.

CONGDON DAVID S, the Executive Chairman of Old Dominion Freight Line, Inc., sale 34,000 shares at $440.97 during a trade that took place back on Feb 23 ’24, which means that CONGDON DAVID S is holding 732,712 shares at $14,993,133 based on the most recent closing price.

Stock Fundamentals for ODFL

Current profitability levels for the company are sitting at:

  • 0.28 for the present operating margin
  • 0.37 for the gross margin

The net margin for Old Dominion Freight Line, Inc. stands at 0.21. The total capital return value is set at 0.33. Equity return is now at value 31.34, with 23.95 for asset returns.

Based on Old Dominion Freight Line, Inc. (ODFL), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at 16.42. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 4328.95.

Currently, EBITDA for the company is 1.97 billion with net debt to EBITDA at -0.14. When we switch over and look at the enterprise to sales, we see a ratio of 8.12. The receivables turnover for the company is 9.53for trailing twelve months and the total asset turnover is 1.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.10.

Conclusion

In conclusion, Old Dominion Freight Line, Inc. (ODFL) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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