Within the first quarter of this 12 months, Jupiter Asset Administration Ltd., a notable institutional investor, elevated its place in Outdated Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.1%, based on reviews submitted to the Securities and Trade Fee (SEC). The corporate now owns 59,318 shares of Outdated Dominion Freight Line’s inventory, having acquired an extra 4,958 shares throughout the interval talked about. Based mostly on the newest SEC submitting, these shares are valued at roughly $20,211,000.
Outdated Dominion Freight Line not too long ago launched its quarterly earnings knowledge on July twenty sixth. The transportation firm surpassed analysts’ expectations by reporting earnings per share (EPS) of $2.65 for the quarter, beating the consensus estimate of $2.63 by $0.02. With a web margin of 21.49% and a return on fairness of 34.58%, Outdated Dominion Freight Line has displayed its robust monetary efficiency on this interval.
The corporate’s income for the quarter was recorded at $1.41 billion, barely decrease than analysts’ forecasts of $1.44 billion. Comparatively, this marks a decline of 15.2% in income from the identical interval final 12 months when it earned $3.30 per share as nicely.
Regardless of this drop in income year-over-year, sell-side analysts stay optimistic about Outdated Dominion Freight Line’s future prospects. They predict that the agency will obtain an EPS of 10.65 for the present fiscal 12 months.
By analyzing Jupiter Asset Administration Ltd.’s rising funding in Outdated Dominion Freight Line and contemplating its spectacular monetary efficiency for Q1-2023, traders and business observers can achieve priceless insights into the corporate’s stability and progress potential inside the transportation sector.
Traders ought to be aware of such developments and consider whether or not or not investing in Outdated Dominion Freight Line aligns with their long-term funding methods and danger tolerance ranges.
You will need to word that the data and analyses offered on this article are based mostly on knowledge accessible as of August 16, 2023. It is strongly recommended for traders to conduct additional analysis and search skilled recommendation earlier than making any funding choices concerning Outdated Dominion Freight Line or every other firm.
Outdated Dominion Freight Line, Inc.
ODFL
Purchase
Up to date on: 22/08/2023
Outdated Dominion Freight Line: Institutional Traders, Analysts Reviews, and Monetary Outlook
On August 16, 2023, it was reported that a number of institutional traders have made vital modifications to their holdings of Outdated Dominion Freight Line (ODFL) inventory. Kentucky Retirement Techniques elevated its place within the transportation firm’s shares by a marginal 0.4% throughout the fourth quarter. They now personal over 7,200 shares of ODFL inventory, valued at roughly $2.045 million.
One other investor, Quent Capital LLC, noticed a 6.9% improve of their stake in ODFL throughout the first quarter, now proudly owning 556 shares estimated at $189,000. ETF Managers Group LLC additionally joined the ranks by rising their share place in Outdated Dominion Freight Line by 1.5%, totaling 2,422 shares value $826,000.
First Horizon Advisors Inc., however, skilled a smaller progress of 5.6% throughout the fourth quarter with their present possession of ODFL now valued at $197,000. Lastly, PFG Advisors noticed a modest rise of 5% of their holdings of Outdated Dominion Freight Line throughout the first quarter and at present personal virtually 900 shares value round $306,000.
Hedge funds and different institutional traders reportedly maintain a formidable 72.38% stake in Outdated Dominion Freight Line’s inventory.
By way of analysts’ reviews on ODFL shares not too long ago launched to the general public, Evercore ISI raised its goal worth from $350.00 to $363.00 on June twenty seventh this 12 months. Conversely, Morgan Stanley did the alternative and lowered their goal worth from $334.00 to $332.00 on July sixth.
Citigroup adopted go well with by elevating their worth goal to $376 whereas nonetheless offering a “impartial” ranking for Outdated Dominion Freight Line on June twenty ninth.
Moreover, Susquehanna lowered their worth goal from $326 to $310 again on April twenty seventh. In the meantime, Credit score Suisse Group revealed their optimistic worth goal of $375 on July twenty seventh.
In line with Bloomberg.com knowledge, analysts have given Outdated Dominion Freight Line an total “Maintain” ranking, with a consensus worth goal of $360.57.
In latest information, there have been vital transactions involving the corporate’s inventory by insiders. Senior Vice President Steven W. Hartsell offered 403 shares of ODFL inventory on August tenth at a mean worth of $405.33, aggregating a complete transaction quantity of $163,347.99.
On account of this sale, Hartsell now straight owns 491 shares valued at $199,017.03. One other insider sale occurred when Director Thomas A. Stith III offered 225 shares at a mean worth of $411.66 on August eleventh, making roughly $92,623.50 from the transaction.
The disclosure concerning these transactions may be accessed by way of the Securities and Trade Fee (SEC) submitting accessible through a offered hyperlink.
Presently buying and selling at a gap worth of $409.64 per share on August sixteenth, 2023; Outdated Dominion Freight Line holds a fifty-day easy shifting common of $372.58 and a two-hundred-day easy shifting common of $346.72.
With a market capitalization standing at a formidable $44.76 billion and a PE ratio of 35.59 coupled with a comparatively excessive price-to-earnings progress (PEG) ratio of 4.94; Outdated Dominion Freight Line demonstrates monetary stability out there.
Moreover, the transportation firm has a beta worth of 1.12 which signifies reasonable volatility in comparison with the broader market tendencies.
Outdated Dominion Freight Line’s liquidity is robust as nicely, with each its fast ratio and present ratio at a wholesome degree of 1.45 indicating its capability to cowl short-term liabilities comfortably.
The corporate additionally boasts a positive debt-to-equity ratio of 0.02, suggesting a cautious strategy in direction of borrowing and potential monetary dangers.
Over the previous 12 months, Outdated Dominion Freight Line’s inventory has fluctuated between a low of $240.00 and a excessive of $429.24, serving as clear proof of its progress and market enchantment.
Total, based mostly on the institutional traders’ modifications, analysts’ reviews, insider transactions, and key monetary metrics, Outdated Dominion Freight Line seems to be holding regular within the transportation business whereas making strides in direction of future progress and stability.
