Worth Watching: Old Dominion Freight Line Just Reaches 52-Week High?

Worth Watching: Old Dominion Freight Line Just Reaches 52 Week High?

The stock of Old Dominion Freight Line (NASDAQ:ODFL) hit a new 52-week high and has $110.59 target or 27.00% above today’s $87.08 share price. The 5 months bullish chart indicates low risk for the $7.36 billion company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $110.59 price target is reached, the company will be worth $1.99 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 38,230 shares traded hands. Old Dominion Freight Line (NASDAQ:ODFL) has risen 24.87% since April 18, 2016 and is uptrending. It has outperformed by 20.44% 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. $90 is the highest target while $60.0 is the lowest. The $70.86 average target is -18.63% below today’s ($87.08) stock price. Old Dominion Freight Line has been the topic of 17 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Wednesday, October 7, the company rating was downgraded by Citigroup. The stock has “Hold” rating given by Stifel Nicolaus on Thursday, April 28. RBC Capital Markets maintained Old Dominion Freight Line (NASDAQ:ODFL) on Friday, July 31 with “Sector Perform” rating. Bank of America initiated Old Dominion Freight Line (NASDAQ:ODFL) on Friday, October 2 with “Buy” rating. The firm has “Hold” rating given on Friday, July 31 by Deutsche Bank. The stock has “Underperform” rating given by Bank of America on Friday, October 28. As per Thursday, January 7, the company rating was downgraded by RBC Capital Markets. The firm has “Market Perform” rating by Cowen & Co given on Friday, April 29. The firm earned “Outperform” rating on Wednesday, September 23 by RBC Capital Markets. Bank of America downgraded Old Dominion Freight Line (NASDAQ:ODFL) on Wednesday, December 2 to “Neutral” rating.

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 increased to 0.83 in 2016 Q2. Its up 0.04, from 0.79 in 2016Q1. The ratio is positive, 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.
Arizona State Retirement Sys accumulated 28,619 shares or 0.02% of the stock. Teachers Advsrs owns 58,939 shares or 0.01% of their US portfolio. Tributary Capital Management Ltd Liability Corp last reported 24,000 shares in the company. Fiera Cap has 0.23% invested in the company for 676,695 shares. Marshall Wace Llp holds 96,471 shares or 0.05% of its portfolio. Public Employees Retirement Association Of Colorado, a Colorado-based fund reported 161,266 shares. Bnp Paribas Arbitrage holds 0.01% of its portfolio in Old Dominion Freight Line (NASDAQ:ODFL) for 27,051 shares. Atlantic Trust Ltd Liability Company holds 1.93M shares or 0.85% of its portfolio. Moreover, Lpl Financial Limited Liability has 0.01% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 13,190 shares. Moreover, Asset Management Inc has 0% invested in Old Dominion Freight Line (NASDAQ:ODFL) for 5,028 shares. Blair William Company Il has 0.01% invested in the company for 9,420 shares. State Board Of Administration Of Florida Retirement Sys reported 68,915 shares or 0.01% of all its holdings. King Luther Cap Management accumulated 4,095 shares or 0% of the stock. Mycio Wealth Ltd Liability Company last reported 0% of its portfolio in the stock. The New York-based J Goldman & Lp has invested 0.15% in Old Dominion Freight Line (NASDAQ:ODFL).

Insider Transactions: Since June 16, 2016, the stock had 0 buys, and 13 selling transactions for $16.87 million net activity. Shares for $1.29M were sold by CONGDON JEFFREY W on Friday, August 12. The insider CONGDON JOHN R JR sold $269,306. SUGGS LEO H sold $309,130 worth of stock or 3,800 shares. Shares for $115,818 were sold by CONGDON DAVID S on Thursday, June 16.

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 Forbes.com with their article: “Old Dominion Freight Line Reaches Analyst Target Price” published on August 31, 2016, Prnewswire.com published: “Old Dominion Freight Line’s Third Quarter 2016 Conference Call On The Internet” on October 06, 2016. More interesting news about Old Dominion Freight Line (NASDAQ:ODFL) were released by: Prnewswire.com and their article: “Old Dominion Freight Line’s Second Quarter 2016 Conference Call On The Internet” published on July 07, 2016 as well as Nasdaq.com‘s news article titled: “Old Dominion Freight Line Q3 Profit Rises 1%” with publication date: October 27, 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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