The Vanguard Group, Inc. has recently announced that it has increased stake in Old Dominion Freight Line Inc. (NASDAQ:ODFL) by 0.02%. After grabbing 10.4 million shares, the institutional investor is now in possession of 2529.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 9.41% having worth around $3.53 billion. Moreover, T. Rowe Price Associates, Inc. increased its share by 0.22 million to have a control over 8.42 million shares. And BlackRock Fund Advisors raised its holdings to 91994.0 shares by acquiring 6.04 million shares or 5.47% of the stake.
Old Dominion Freight Line Inc. (ODFL) concluded trading on 03/23/23 at a closing price of $329.50, with 0.64 million shares of worth about $210.48 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 30.96% during that period and on Thursday the price saw a loss of about -0.40%. Currently the company’s common shares owned by public are about 110.33M shares, out of which, 96.33M shares are available for trading.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 21 analysts are covering the ODFL stock and their offered price forecasts bring an average price target of $352.12. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $425.00 and could fall to a lowest price of $260.00. The stock’s current price level is 6.78% above of average price target set by the analysts, while a rise to estimated low would result in loss of -26.73% for the stock. However, touching the estimated high of $425.00 would mean a gain of 22.47% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 86 times over the past 12 months. They bought 40,018 shares in 26 of the transactions. In 60 selling transactions, insiders dumped 42,858 shares.
American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and American Funds AMCAP Fund are the top 3 mutual funds which are holding stakes in Old Dominion Freight Line Inc. American Funds Growth Fund of Ame is currently holding 5.38 million shares of worth totaling $1.82 billion. The company recently came selling 14937.0 shares which brought its stake up to 4.87% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 11324.0 shares, after which its hold over company’s outstanding shares expand to 2.77%, leaving 3.06 million shares with the mutual fund that have a worth of about $1.04 billion. American Funds AMCAP Fund, after buying 2.65 million shares, have now control over 2.40% of the stake in the company. It holds 0.0 shares of worth $898.04 million.
Old Dominion Freight Line Inc. (NASDAQ: ODFL) started trading at $331.83, above $1.01 from concluding price of the previous day. However, the stock later moved at a day high price of 339.08, or with a loss of -0.40%. Stock saw a price change of -2.37% in past 5 days and over the past one month there was a price change of -3.66%. Year-to-date (YTD), ODFL shares are showing a performance of 16.11% which increased to 2.04% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $231.31 but also hit the highest price of $381.81 during that period. The average intraday trading volume for Old Dominion Freight Line Inc. shares is 777.03K. The stock is currently trading -3.26% below its 20-day simple moving average (SMA20), while that difference is down -2.91% for SMA50 and it goes to 12.62% higher than SMA200.
The Vanguard Group, Inc. acquired 10.4 million shares of Old Dominion Freight Line Inc. having value of about $3.53 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2529.0 shares in the company valued at close to $833305.5, or have control over 0.02% stake in the company. Old Dominion Freight Line Inc. (NASDAQ: ODFL) currently have 110.33M outstanding shares and institutions hold larger chunk of about 76.40% of that. Holding of mutual funds in the company is about 25.10% while other institutional holders and individual stake holders have control over 50.85% and 22.36% of the stake respectively.
The stock has a current market capitalization of $36.90B and its 3Y-monthly beta is at 1.09. PE ratio of stock for trailing 12 months is 27.04, while it has posted earnings per share of $12.18 in the same period. Its PEG reads 1.83 and has Quick Ratio of 1.80 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ODFL, volatility over the week remained 2.78% while standing at 2.81% over the month.
Analysts are in expectations that Old Dominion Freight Line Inc. (ODFL) stock would likely to be making an EPS of $2.69 in the current quarter, while forecast for next quarter EPS is $3.2 and it is $13.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.5 which is $2.87 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.6 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 37.10% while it is estimated to increase by 11.34% in next year. EPS is likely to shrink at an annualized rate of 14.76% for next 5-years, compared to annual growth of 33.20% made by the stock over the past 5-years.
Analysts at 21 brokerage firms have issued recommendations for the Old Dominion Freight Line Inc. (ODFL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.80. Out of those 21 Wall Street analysts, 3 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 4 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on February 02, 2023 offering an Underperform rating for the stock and assigned a target price range of between $291 and $326 to it. Coverage by Wells Fargo stated Old Dominion Freight Line Inc. (ODFL) stock as an Overweight in their note to investors on February 02, 2023, suggesting a price target of $395 for the stock. On February 02, 2023, UBS Reiterated their recommendations, while on February 02, 2023, Susquehanna Reiterated their ratings for the stock with a price target of $330. Stock get an Overweight rating from Stephens on February 02, 2023.
Leave a Reply