Stock Mover of the Day: Will Old Dominion Freight Line Run Out of Steam Soon?

Stock Mover of the Day: Will Old Dominion Freight Line Run Out of Steam Soon?

The stock of Old Dominion Freight Line (NASDAQ:ODFL) reached all time high today, Nov, 14 and still has $106.38 target or 26.00% above today’s $84.43 share price. This indicates more upside for the $7.06 billion company. This technical setup was reported by Barchart.com. If the $106.38 PT is reached, the company will be worth $1.84B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 1.29M shares traded hands or 79.34% up from the average. Old Dominion Freight Line (NASDAQ:ODFL) has risen 20.77% since April 12, 2016 and is uptrending. It has outperformed by 15.79% the S&P500.

Old Dominion Freight Line (NASDAQ:ODFL) Ratings Coverage

Out of 8 analysts covering Old Dominion Freight Line (NASDAQ:ODFL), 2 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 25% are positive. Old Dominion Freight Line has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Old Dominion Freight Line (NASDAQ:ODFL) has “Buy” rating given on Wednesday, November 2 by Deutsche Bank. The rating was maintained by Deutsche Bank with “Hold” on Friday, July 31. Bank of America downgraded the stock to “Neutral” rating in Wednesday, December 2 report. As per Friday, October 28, the company rating was downgraded by Bank of America. RBC Capital Markets maintained the shares of ODFL in a report on Wednesday, September 23 with “Outperform” rating. As per Thursday, April 28, the company rating was downgraded by Stifel Nicolaus. The firm has “Sector Perform” rating given on Friday, July 31 by RBC Capital Markets. The firm earned “Sector Perform” rating on Thursday, January 7 by RBC Capital Markets. The stock of Old Dominion Freight Line (NASDAQ:ODFL) earned “Buy” rating by Bank of America on Friday, October 2. Cowen & Co maintained the stock with “Market Perform” rating in Friday, April 29 report.

According to Zacks Investment Research, “Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.10, from 0.89 in 2016Q1. The ratio fall, as 37 funds sold all Old Dominion Freight Line shares owned while 105 reduced positions. 35 funds bought stakes while 77 increased positions. They now own 58.93 million shares or 6.44% less from 62.99 million shares in 2016Q1.
State Street, a Massachusetts-based fund reported 1.82M shares. Cim Limited Liability Co, a New York-based fund reported 7,184 shares. Tiaa Cref Invest Mgmt holds 0.01% or 208,288 shares in its portfolio. Moreover, Utah Retirement has 0.02% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 12,300 shares. Pitcairn has 0.03% invested in the company for 3,641 shares. Alliancebernstein Lp reported 48,369 shares or 0% of all its holdings. Lpl Ltd Co, a California-based fund reported 13,190 shares. Moreover, First Personal Fin Service has 0% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 21 shares. Deutsche Comml Bank Ag holds 0.01% of its portfolio in Old Dominion Freight Line (NASDAQ:ODFL) for 200,752 shares. Moreover, Quantitative Management Lc has 0.03% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 10,300 shares. Moreover, Td Asset Mngmt has 0.01% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 66,000 shares. Pub Employees Retirement Association Of Colorado holds 0.08% or 161,266 shares in its portfolio. Eagle Asset Management Inc has 0.09% invested in the company for 205,572 shares. Commonwealth Of Pennsylvania School Empls Retrmt has 0.01% invested in the company for 13,169 shares. Palisade Cap Nj holds 0.57% or 261,325 shares in its portfolio.

Insider Transactions: Since June 16, 2016, the stock had 0 insider buys, and 11 selling transactions for $13.15 million net activity. The insider CONGDON DAVID S sold $115,818. $1.62M worth of Old Dominion Freight Line (NASDAQ:ODFL) was sold by CONGDON JOHN R JR on Tuesday, August 9. The insider CONGDON JEFFREY W sold $1.49M.

More notable recent Old Dominion Freight Line (NASDAQ:ODFL) news were published by: Prnewswire.com which released: “Old Dominion Freight Line Announces General Rate Increase” on September 13, 2016, also Prnewswire.com with their article: “Old Dominion Freight Line’s Third Quarter 2016 Conference Call On The Internet” published on October 06, 2016, Forbes.com published: “Old Dominion Freight Line Reaches Analyst Target Price” on August 31, 2016. More interesting news about Old Dominion Freight Line (NASDAQ:ODFL) were released by: Reuters.com and their article: “BRIEF-Old Dominion Freight Line Q3 earnings per share $1.03” published on October 27, 2016 as well as Prnewswire.com‘s news article titled: “Old Dominion Freight Line’s Second Quarter 2016 Conference Call On The Internet” with publication date: July 07, 2016.

ODFL Company Profile

Old Dominion Freight Line, Inc., incorporated on March 22, 1999, is a less-than-truckload (LTL), union-free motor carrier company. The Firm provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Firm offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

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