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Old Dominion Freight Line (ODFL) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Old Dominion Freight Line (ODFL - Free Report) closed at $328.30, marking a +1.71% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Prior to today's trading, shares of the trucking company had gained 11.4% over the past month. This has outpaced the Transportation sector's gain of 2.14% and the S&P 500's gain of 0.88% in that time.
Investors will be hoping for strength from Old Dominion Freight Line as it approaches its next earnings release. On that day, Old Dominion Freight Line is projected to report earnings of $2.35 per share, which would represent year-over-year growth of 38.24%. Our most recent consensus estimate is calling for quarterly revenue of $1.43 billion, up 26.86% from the year-ago period.
ODFL's full-year Zacks Consensus Estimates are calling for earnings of $10.90 per share and revenue of $6.2 billion. These results would represent year-over-year changes of +22.61% and +17.87%, respectively.
It is also important to note the recent changes to analyst estimates for Old Dominion Freight Line. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.04% higher within the past month. Old Dominion Freight Line currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Old Dominion Freight Line is currently trading at a Forward P/E ratio of 29.62. For comparison, its industry has an average Forward P/E of 15.23, which means Old Dominion Freight Line is trading at a premium to the group.
Also, we should mention that ODFL has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Truck was holding an average PEG ratio of 1.1 at yesterday's closing price.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Old Dominion Freight Line (ODFL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Old Dominion Freight Line (ODFL - Free Report) closed at $328.30, marking a +1.71% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 0.18%.
Prior to today's trading, shares of the trucking company had gained 11.4% over the past month. This has outpaced the Transportation sector's gain of 2.14% and the S&P 500's gain of 0.88% in that time.
Investors will be hoping for strength from Old Dominion Freight Line as it approaches its next earnings release. On that day, Old Dominion Freight Line is projected to report earnings of $2.35 per share, which would represent year-over-year growth of 38.24%. Our most recent consensus estimate is calling for quarterly revenue of $1.43 billion, up 26.86% from the year-ago period.
ODFL's full-year Zacks Consensus Estimates are calling for earnings of $10.90 per share and revenue of $6.2 billion. These results would represent year-over-year changes of +22.61% and +17.87%, respectively.
It is also important to note the recent changes to analyst estimates for Old Dominion Freight Line. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.04% higher within the past month. Old Dominion Freight Line currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Old Dominion Freight Line is currently trading at a Forward P/E ratio of 29.62. For comparison, its industry has an average Forward P/E of 15.23, which means Old Dominion Freight Line is trading at a premium to the group.
Also, we should mention that ODFL has a PEG ratio of 1.88. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Transportation - Truck was holding an average PEG ratio of 1.1 at yesterday's closing price.
The Transportation - Truck industry is part of the Transportation sector. This group has a Zacks Industry Rank of 20, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.