Old Dominion Freight Line, Inc.’s Stock Price Drops to $167.03, Reflecting a 6.15% Decline

Old Dominion Freight Line, Inc. (ODFL)

167.03 USD -10.94 (-6.15%) Volume: 2.51M

Old Dominion Freight Line, Inc.’s stock price is currently at 167.03 USD, experiencing a downturn of -6.15% in the latest trading session with a volume of 2.51M, and a year-to-date percentage change of -5.31%, reflecting the company’s market volatility and investor sentiment.

Latest developments on Old Dominion Freight Line, Inc.

Old Dominion Freight Line Inc. stock saw some fluctuations today as it underperformed compared to its competitors. Despite this, there were notable movements in the company’s stock holdings by various investment firms. Raymond James Financial Inc. took a significant $114.45 million position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL), while other firms like Markel Group Inc. and Jones Financial Companies Lllp increased their stock holdings in the company. On the other hand, Amundi and Banco Santander S.A. sold off portions of their shares. These actions reflect a mix of confidence and caution in Old Dominion Freight Line‘s stock as it continues to navigate the market. Additionally, analysts at Barclays recently lowered the price target for Old Dominion Freight Line (NASDAQ:ODFL) to $195.00, indicating a potential shift in investor sentiment towards the company.

Old Dominion Freight Line, Inc. on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely monitoring Old Dominion Freight Line‘s performance. In their recent research report titled “Old Dominion Freight Line: Dealing With Capacity Management Vulnerability & Other Challenges! – Major Drivers,” they highlighted key aspects from the company’s third-quarter earnings call for 2024. Despite facing challenges in the economic environment, Old Dominion Freight Line reported a decrease in revenue to $1.47 billion, down 3.0% from the previous year. The decline in LTL tons per day by 4.8% was partially offset by a 1.5% increase in LTL revenue per hundredweight.

A look at Old Dominion Freight Line, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Old Dominion Freight Line, Inc. has a promising long-term outlook based on the Smartkarma Smart Scores. With high scores in Growth, Resilience, and Momentum, the company is positioned for continued success in the transportation industry. Its ability to adapt to changing market conditions and maintain strong momentum bodes well for its future prospects.

Despite receiving lower scores in Value and Dividend, Old Dominion Freight Line‘s overall outlook remains positive. The company’s focus on providing efficient and reliable transportation services for a variety of goods positions it well for sustained growth. With a strong presence in regional markets across the United States, Old Dominion is poised to thrive in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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