Streetbeat News

ODFL

Old Dominion Freight Line, Inc.

https://www.odfl.com

Industry

Trucking

Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting. As of December 31, 2021, it owned and operated 10,403 tractors, 27,917 linehaul trailers, and 13,303 pickup and delivery trailers; 3 fleet maintenance centers; and 251 service centers. Old Dominion Freight Line, Inc. was founded in 1934 and is headquartered in Thomasville, North Carolina.

Open

222.14

Mkt cap

48B

Volume

1.1M

High

226.40

P/E Ratio

39.46

52-wk high

231.36

Low

220.56

Div yield

0.01

52-wk low

165.49

Old Dominion Freight Line, Inc. (NASDAQ: ODFL) reported a 5.6% increase in revenue per day for May 2024 compared to May 2023, driven by a 1.5% increase in LTL tons per day and higher LTL revenue per hundredweight. The increase in LTL tons per day was due to a 2.3% rise in LTL shipments per day, partially offset by a 0.7% decrease in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight excluding fuel surcharges rose by 4.2% and 4.7%, respectively, compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 8:23 pm

Old Dominion Freight Line (ODFL) is set for strong growth amid favorable LTL trends, according to BMO Capital analyst Fadi Chamoun. Chamoun initiated coverage with an Outperform rating and a price target of $210, citing ODFL's consistent performance, favorable industry conditions, and exceptional execution. The analyst expects significant margin improvements and strong EPS growth in the coming years. Investors can also gain exposure through ETFs like IYT and SUPL.

Portfolio Pulse from Lekha Gupta

June 05, 2024 | 6:50 pm

Top Wall Street analysts initiated coverage on several companies with bullish ratings. Guggenheim initiated Twist Bioscience (TWST) with a Buy rating and a $53 price target. BMO Capital initiated Old Dominion Freight Line (ODFL) with an Outperform rating and a $210 price target. Cantor Fitzgerald initiated Proto Labs (PRLB) with an Overweight rating and a $44 price target. Goldman Sachs initiated Jazz Pharmaceuticals (JAZZ) with a Buy rating and a $169 price target. Craig-Hallum initiated Spire Global (SPIR) with a Buy rating and a $13 price target.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 1:02 pm

BMO Capital has initiated coverage on Old Dominion Freight Line (NASDAQ:ODFL) with an Outperform rating and a price target of $210.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 12:06 pm

U.S. stocks were mixed on Tuesday, with the Dow Jones index gaining around 20 points. Several stocks saw significant gains, including Saia Inc, Annexon, Core Scientific, and others. Saia Inc reported an 18% increase in LTL shipments per workday in April, leading to a 12.3% rise in its shares. Annexon surged 40% after its Phase 3 trial met its primary endpoint. Core Scientific climbed 29% following the signing of 12-year contracts with CoreWeave. Other notable gainers included Terawulf, Zai Lab, Hillevax, and more.

Portfolio Pulse from Avi Kapoor

June 04, 2024 | 2:09 pm

Baird analyst Garrett Holland upgraded Old Dominion Freight Line (ODFL) from Neutral to Outperform, while maintaining a $205 price target.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 9:30 am

Old Dominion Freight Line (ODFL) has seen a 112.04% increase in short interest since its last report, with 4.46 million shares sold short, representing 2.29% of its float. It would take about 4.81 days to cover all short positions. This rise in short interest can indicate a bearish market sentiment towards ODFL, although it has less short interest compared to its peer group average of 4.71%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 1:15 pm

Vertical Research analyst Jeffrey Kauffman upgrades Old Dominion Freight Line (ODFL) from Sell to Hold, indicating a more neutral outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:59 pm

Corporate earnings have recently uplifted the market, overcoming rate fears. The upcoming week features earnings reports from major companies including Apple and Amazon, which could significantly influence market trends. Analysts anticipate Apple to report a slight earnings beat but expect a lower revenue guide for the June quarter, while Amazon is expected to continue showing strong sales and profit growth. The performance of these companies, especially in sectors like e-commerce, tech, and healthcare, will be closely watched for their impact on the S&P 500 Index.

Portfolio Pulse from Shanthi Rexaline

April 29, 2024 | 5:51 am

Aon plc shares fell by 7.4% after reporting quarterly financial results below market expectations. Other stocks showed significant movement, with Biodexa Pharmaceuticals and Pineapple Energy among the top gainers, while iClick Interactive and Nuwellis were notable losers.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 5:56 pm

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