Old Dominion Freight Line, Inc. (ODFL) Monthly Report
Publication Date: September 22, 2024
Company Overview
Old Dominion Freight Line, Inc. (ODFL) is a key player in the logistics sector, operating as a less-than-truckload (LTL) motor carrier. Founded in 1934 and headquartered in Thomasville, North Carolina, the company provides a range of freight services across the United States and North America, including regional, inter-regional, and national transportation. With a fleet of 10,791 tractors and 46 maintenance centers as of December 31, 2023, Old Dominion serves various industries through its value-added services like expedited transportation, container drayage, truckload brokerage, and supply chain consulting. As a leader in the trucking industry, ODFL has positioned itself well within the industrials sector, which currently generates approximately $5.97 billion in revenue and is poised for growth fueled by rising e-commerce demand.
Investment Outlook
The trucking sector remains a compelling investment opportunity, with analysts projecting a high target price for ODFL at $228.00, reflecting robust growth potential. The current price of ODFL’s stock stands at $193.97, suggesting a notable upside for prospective investors. Despite a modest short interest of 4.7% of the float, sentiment surrounding the stock appears generally positive. Analysts have established a range for the stock, with a target low of $160.00 and a mean price of $197.62 based on insights from 18 analysts, resulting in a consensus “buy” recommendation with a mean score of 2.5. This indicates a collective confidence in Old Dominion’s ability to thrive amidst the expanding freight demands of a fast-evolving economy.
Performance Analysis
In assessing Old Dominion’s financial health, the total revenue reported is approximately $5.97 billion. However, the absence of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) data poses a challenge in evaluating operational efficiency thoroughly. The stock is currently trading significantly below its fifty-two week high of $227.80 and closer to its low of $165.49, hinting at potential recovery opportunities. The fifty-day moving average stands at $196.22, slightly higher than the current trading price, which may reflect short-term market dynamics. Continuous monitoring of these metrics will be essential for investors looking to capitalize on buying opportunities or manage risks effectively within the freight industry landscape.
| Metric | Value |
|---|---|
| Market Cap | $41.6b |
| Total Debt | $60.0m |
| Total Cash | $104.6m |
| Shares Outstanding | 214.3m |
| Float Shares | 191.6m |
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