It’s still a bull thesis, just subverted: Old Dominion Freight Line Inc. (ODFL)

Currently, Old Dominion Freight Line Inc. [ODFL] is trading at $329.50, down -0.40%. An important factor to consider is whether the stock is rising or falling in short-term value. The ODFL shares have lost -2.37% over the last week, with a monthly amount drifted -3.66%, and not seem to be holding up well over a long-time horizon.

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On 3, March 2023, Old Dominion Freight Line Provides Update for First Quarter 2023. In a post published today on Yahoo Finance, Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for February 2023. Revenue per day decreased 2.9% as compared to February 2022 due to a 12.4% decrease in LTL tons per day that was partially offset by an increase in LTL revenue per hundredweight. The change in LTL tons per day was attributable to a 10.1% decrease in LTL shipments per day and a 2.5% decrease in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 12.1% and 8.6%, respectively, as compared to the same period last year.

From an analyst’s perspective:

Old Dominion Freight Line Inc. [NASDAQ: ODFL] stock has seen the most recent analyst activity on February 02, 2023, when Wolfe Research reiterated its Underperform rating and also boosted its price target to $326 from $291. Previously, Wells Fargo reaffirmed its Overweight rating on February 02, 2023, and elevated its price target to $395. On February 02, 2023, UBS reiterated its Neutral rating and revised its price target to $388 on the stock. Susquehanna reiterated its Neutral rating and increased its price target to $330 on February 02, 2023. Stephens reiterated its recommendation of a Overweight and raised its price target to $425 on February 02, 2023. Robert W. Baird reiterated a Neutral rating for this stock on February 02, 2023, and upped its price target to $340. In a note dated February 02, 2023, KeyBanc Capital Markets reiterated an Overweight rating on this stock and boosted its target price from $325 to $400.

This stock has fluctuated between a low of $231.31 and a high of $381.81 over the last 52 weeks. Old Dominion Freight Line Inc. [NASDAQ: ODFL] shares were valued at $329.50 at the most recent close of the market.

Analyzing the ODFL fundamentals

Recent quarter sales for Old Dominion Freight Line Inc. [NASDAQ:ODFL] were 1.49 billion which represents 5.80% growth.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 325.34 points at the first support level, and at 321.18 for the second support level. However, for the 1st resistance point, the stock is sitting at 336.37, and for the 2nd resistance point, it is at 343.24.

Old Dominion Freight Line Inc. [ODFL] reported earnings per share of $2.92 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.68/share, meaning a difference of $0.24 and a surprise factor of 9.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $3.36 per share as compared to estimates of $3.07 per share, a difference of $0.29 representing a surprise of 9.40%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Old Dominion Freight Line Inc. [NASDAQ:ODFL] is 1.80.

Transactions by insiders

The next item on our agenda is insider trading, which has seen 17 insider purchases totaling 35,104 shares and 55 insider sales totaling 21,239 shares over the past 3 months. Recent insider trading involved Bates David J., SVP – Operations, that happened on Feb 27 when 1208.0 shares were sold. Executive Chairman, CONGDON DAVID S completed a deal on Feb 16 to sell 20000.0 shares. Meanwhile, Director Gabosch Bradley R sold 2700.0 shares on Feb 14.