Old Dominion Freight Line Inc(ODFL) has seen significant stock market activity recently, with mixed responses from different stakeholders. On one side, UBS has identified it as a bottom-ranked quant stock, and Argus Research has downgraded its rating to hold. Concurrently, ODFL stocks downgraded due to Q3 earnings that did match estimates but missed revenue targets, resulting in several investors, including ING Groep NV and Fortis Capital Management LLC, selling their shares.
Despite these challenges, ODFL's stock has outperformed competitors, even on loss days. Equally, the company has solid returns and growth, important factors keeping it attractive to big institutional investors. This includes Victory Capital Management and Sumitomo Mitsui Trust Group increasing their holdings, and new investments from Versor Investments LP and Peregrine Asset Advisers Inc. Furthermore, it was named #1 National LTL Carrier for Quality by Mastio & Company for the 15th straight year.
However, ODFL faced some headwinds with year-over-year revenue dropping for the first time in 2024, freight demand dipping, and subsequent earnings forecasts downgraded by Barclays and JPMorgan. Looking ahead, significant institutional ownership of 73% - 79% across different periods and a high RS rating should hold the company in good stead.
Old Dominion Freight Line ODFL News Analytics from Wed, 24 Apr 2024 07:00:00 GMT to Sat, 16 Nov 2024 15:16:16 GMT -
Rating -4
- Innovation 4
- Information 6
- Rumor -6
