JP Morgan raised the price target for the Old Dominion Freight Line, Inc. (NASDAQ:ODFL) stock to “a Neutral”. The rating was released on March 11, 2024, according to finviz. We previously noted in another research note published on March 06, 2024 by BofA Securities that downgraded the stock from a Buy to a Neutral with a price target of $446 for ODFL stock. The stock was downgraded by Deutsche Bank, who disclosed in a research note on November 27, 2023, from Buy to Hold and set the price objective to $386. In their research brief published October 27, 2023, Stifel analysts upgraded the Old Dominion Freight Line, Inc. stock from Hold to Buy with a price target of $416.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of $2.94 during the last quarter as opposed to a consensus estimate of $2.85, which indicates the company beat its estimate by $0.09, which implies that the company surprised the market by 3.20%. It appears that the average earnings per share estimate for the current quarter (ending in Mar 2024) is $2.7. This is an average of 17 analysts’ earnings, where the high earnings per share estimate is $2.88 and the low earnings per share estimate is $2.59. According to 12 analyst estimates, an average revenue estimate of $1.48B is projected for the current quarter with a high revenue estimate of $1.53B and a low estimate of $1.42B.
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The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated -1.45% within the last five trades and -2.97% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 7.25% in the last 6 months and 2.87% was added to its value over the previous 3 months. ODFL stock is trading at a margin of -1.50%, 1.55% and 6.89% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, ODFL deals in the Industrials domain. The stock is trading -5.39 percent below its 52-week high and 44.68 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 25.1. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Old Dominion Freight Line, Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 28.05 percent and the profit margin is 21.13 percent, and the company has reported a gross margin of 34.04 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $46.58 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is 38.00. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 28.88. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 7.94 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 10.95, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 13.85 percent of Old Dominion Freight Line, Inc. shares are owned by insiders, and 74.46 percent are held by financial institutions. Kasarda John D., the Director at Old Dominion Freight Line, Inc. (ODFL) has sold 7,972 shares of firm on Feb 27 ’24 at a price of $442.15 against the total amount of $3.52 million. In another inside trade, CONGDON DAVID S, Executive Chairman of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) sold 34,000 shares of the firm on Feb 23 ’24 for a total worth of $14.99 million at a price of $440.97. An inside trade which took place on Nov 10 ’23, Executive Chairman of Old Dominion Freight Line, Inc. CONGDON DAVID S sold 24,100 shares of firm against total price of $9.41 million at the cost of $390.59 per share.
