The Old Dominion Freight Line (ODFL) announced a 12.9% fall in Q1 profit, alongside weakened returns on capital. However, Canal Capital Management LLC raised its stake in the company by purchasing additional 8,706 shares. The company's Q1 earnings dropped to US$1.2 per share, causing the stock to fall temporarily. Despite issues around economic uncertainty and lower revenue, the company's revenues were found to be in line with market expectations. Major investment and advisory companies like Barclays, BofA, Raymond James, and Truist have adjusted the price target for ODFL due to the economic conditions and freight recession concerns. Market insiders have reported a sale of US$32m shares, indicating some hesitancy. Despite the negative sentiment, ODFL's first-quarter earnings surprisingly beat estimates with EPS of $1.19, and revenue at $1.37 Billion surpassing expectations. There have also been some encouraging movements with various organizations, like Canada Life Assurance Co, Dimensional Fund Advisors LP, and Stifel Financial Corp, acquiring shares of the company.
Old Dominion Freight Line ODFL News Analytics from Fri, 20 Dec 2024 08:00:00 GMT to Sat, 26 Apr 2025 18:46:25 GMT - Rating 3 - Innovation 1 - Information 5 - Rumor -1
