La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Old Dominion Freight Line a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Old Dominion Freight Line..

Old Dominion Freight Line (NASDAQ:ODFL) Azioni, Catena delle Opzioni

Old Dominion Freight Line

Old Dominion Freight Line is the second-largest less-than-truckload carrier in the United States, with more than 250 service centers and 11,000-plus tractors. It is one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns are head and shoulders above its peers. Strategic initiatives revolve around boosting network density through market share gains and maintaining industry-leading service (including ultralow cargo claims) via steadfast infrastructure investment.

Old Dominion Freight Line, Inc. - Common Stock

Old Dominion Freight Line Inc

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) has outperformed the market over the past 15 years by 18.66% on an annualized basis producing an average annual return of 30.76%. Currently, Old Dominion Freight Line has a market capitalization of $43.14 billion. 
Buying $1000 In ODFL: If an investor had bought $1000 of ODFL stock 15 years ago, it would be worth $53,079.78 today based on a price of $201.31 for ODFL at the time of writing.
<h3>Old Dominion Freight Line's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730233820_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Trading Ideas

ODFL

$1000 Invested In Old Dominion Freight Line 15 Years Ago Would Be Worth This Much Today

TD Cowen analyst Jason Seidl maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Hold and lowers the price target from $203 to $196.

Price Target

Analyst Ratings

TD Cowen Maintains Hold on Old Dominion Freight Line, Lowers Price Target to $196

Stifel analyst J. Bruce Chan maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Hold and lowers the price target from $197 to $178.

Stifel Maintains Hold on Old Dominion Freight Line, Lowers Price Target to $178

Susquehanna analyst Bascome Majors maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Positive and lowers the price target from $225 to $218.

Susquehanna Maintains Positive on Old Dominion Freight Line, Lowers Price Target to $218

Wells Fargo analyst Christian Wetherbee maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Underweight and lowers the price target from $170 to $160.

Wells Fargo Maintains Underweight on Old Dominion Freight Line, Lowers Price Target to $160

BMO Capital analyst Fadi Chamoun maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Market Perform and lowers the price target from $210 to $205.

BMO Capital Maintains Market Perform on Old Dominion Freight Line, Lowers Price Target to $205

Barclays analyst Brandon Oglenski maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Equal-Weight and lowers the price target from $195 to $190.

Barclays Maintains Equal-Weight on Old Dominion Freight Line, Lowers Price Target to $190

Baird analyst Garrett Holland maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Outperform and lowers the price target from $204 to $200.

Baird Maintains Outperform on Old Dominion Freight Line, Lowers Price Target to $200

Wall Street is on track for its third consecutive day of losses as investors grow cautious about risky assets, awaiting more clarity on U.S. fiscal and monetary policies and scrutinizing the latest <a href="https://www.benzinga.com/earnings">batch of corporate earnings.</a>
Both equities and commodities took a hit on Wednesday, while the U.S. dollar gained strength, attracting investor flows as traders moved to safer cash positions.
The U.S. dollar index, as tracked by the the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.5%, reaching levels last seen in late July. 
At midday in New York, the S&amp;P 500 was down 0.7%, attempting to hold support around the 5,800-point level. The Dow Jones also dropped 0.7%, and tech stocks, along with small caps, fared worse, sliding by 0.9%.
On the data front, mortgage applications declined for the fourth straight week, reflecting continued pressure <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41488744/mortgage-applications-fall-for-fourth-straight-week-as-high-rates-squeeze-homebuy">from elevated borrowing costs.</a>
Existing home sales fell by 1% in September to a seasonally adjusted annualized rate of 3.84 million, the lowest level since October 2010. This follows an upwardly revised 3.88 million in August and missed forecasts of 3.9 million.
Despite weak housing data, real estate stocks showed surprising resilience. The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and the SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) moved higher after two straight sessions of losses.
Gold prices, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), fell more than 1%, pulling mining stocks down with it. Silver plummeted over 3%, retreating from 12-year highs reached on Tuesday.
Oil prices slipped by 1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbled 2%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,815.02</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,625.59</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,213.10</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,196.24</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated 12:00 p.m. ET </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.6% to $579.72.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.7% lower to $426.41.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1% to $491.16.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% $219.80.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, up 0.6%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell 2.4% after reporting a worse-than-expected losses<a href="https://www.benzinga.com/news/earnings/24/10/41486950/boeing-q3-earnings-revenue-and-profit-decline-cultural-challenges-ceo-ortberg-vows-transformation"> last quarter</a>.</li>
</ul>
Other stocks reacting to earnings included:
<ul>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), up 3.5%.</li>
<li>Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), up 3.9%.</li>
<li>Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), down over 7%.</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), up over 6%.</li>
<li>Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), down over 7%.</li>
<li>East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>), up over 7%.</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), down over 13%.</li>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 2.2%. </li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), down 2.9%.</li>
<li>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), down 0.1%. </li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), up 3.8%. </li>
<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), down 3.7%. </li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>), down 0.9%. </li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), down 1.6%. </li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), down 2.6%. </li>
<li>Vertiv Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>), down 2.8%. </li>
<li>Old Dominion Freight Line Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), down 4.8%. </li>
</ul>
Large-cap companies reporting earnings after the close include Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>), Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), Raymond James Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>). 
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</ul>

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Macro Economic Events

Mid Cap

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Econ #s

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$BTC

SPDR Dow Jones Industrial Average ETF Trust

ENPH

EWBC

LRCX

MANH

TMUS

TSLA

PowerShares DB US Dollar Index Bullish Fund

XLRE

Select Sector SPDR-Consumer Discretionary

Wall Street Slumps For Third Straight Day As Investor Sentiment Fades, Dollar Strength Resumes, Boeing Disappoints: What's Driving Markets Wednesday?

WIIM

Old Dominion Freight Line shares are trading lower after the company reported worse-than-expected Q3 financial results.

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading lower following <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41483669/old-dominion-freight-line-reports-third-quarter-2024-earnings-per-diluted-share-of-1-43" rel="noreferrer noopener">third-quarter results</a>.
The company reported a revenue decline of&nbsp;3.0%&nbsp;year-over-year to&nbsp;$1.470 billion, missing the consensus of&nbsp;$1.492 billion. EPS was&nbsp;$1.43,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> missing the consensus of&nbsp;$1.47.</a>
The revenue decrease is primarily due to a&nbsp;4.8% decrease in LTL tons per day, partially offset by a 1.5% increase in LTL revenue per hundredweight.
The decline in LTL tons per day is attributed to a 3.4% drop in LTL shipments per day and a 1.4% reduction in LTL weight per shipment.
LTL revenue per hundredweight, excluding fuel surcharges, rose 4.6% in the quarter.
Operating income fell 9.7%&nbsp;to&nbsp;$401.9 million, with an operating ratio of&nbsp;72.7%, compared to&nbsp;70.6%&nbsp;a year ago.
Old Dominion&#8217;s operating cash flow was&nbsp;$446.5&nbsp;million&nbsp;for the&nbsp;third quarter&nbsp;and&nbsp;$1.3&nbsp;billion&nbsp;for the first nine months.
As of September 30, the company had&nbsp;$74.2&nbsp;million&nbsp;in cash and equivalents. Capital expenditures stood at&nbsp;$242.8&nbsp;million&nbsp;in the&nbsp;third&nbsp;quarter.
For the first nine&nbsp;months of this year, Old Dominion returned capital to shareholders, spending&nbsp;$824.8&nbsp;million&nbsp;on share repurchases, including a&nbsp;$200 million&nbsp;accelerated program, and paying&nbsp;$168.2&nbsp;million&nbsp;in dividends.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, &#8220;Old Dominion&#8217;s third quarter financial results reflect ongoing softness in the domestic economy. The challenging operating environment, and strong comparable results for the third quarter of 2023, resulted in the first year-over-year decrease in our quarterly revenue and earnings per diluted share this year.&#8221;
&#8220;The decrease in revenue had a deleveraging effect on many of our operating expenses, which contributed to the 110 basis point increase in our overhead costs as a percent of revenue. Direct operating costs also increased as a percent of revenue despite our team operating very efficiently during the third quarter.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 5.79% at $187.99 premarket at the last check Wednesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41407450/old-dominion-freight-line-faces-sluggish-industrial-demand-analyst-downgrades-stock" target="_blank" rel="noreferrer noopener">Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock</a></li>
</ul>

Earnings

Movers

iShares Dow Jones Transportation Average Index Fund

ProShares Trust ProShares Supply Chain Logistics ETF

SUPL

Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) reported quarterly earnings of $1.43 per share which missed the analyst consensus estimate of $1.47 by 2.72 percent. The company reported quarterly sales of $1.470 billion which missed the analyst consensus estimate of $1.492 billion by 1.51 percent. This is a 2.97 percent decrease over sales of $1.515 billion the same period last year.

Earnings Misses

Old Dominion Freight Line Q3 2024 GAAP EPS $1.43 Misses $1.47 Estimate, Sales $1.470B Miss $1.492B Estimate

Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) will release its quarterly earnings report on Wednesday, 2024-10-23. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Old Dominion Freight Line to report an earnings per share (EPS) of $1.44.
Investors in Old Dominion Freight Line are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.03, leading to a 5.69% increase in the share price on the subsequent day.

<img src="https://www.benzinga.com/files/images/story/2024/1729612932_0.png" alt="eps graph" />
<h3>Performance of Old Dominion Freight Line Shares</h3>
Shares of Old Dominion Freight Line were trading at $198.05 as of October 21. Over the last 52-week period, shares are up 6.41%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/ODFL/earnings">To track all earnings releases for Old Dominion Freight Line visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Examining the Future: Old Dominion Freight Line's Earnings Outlook

Stifel analyst J. Bruce Chan downgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Buy to Hold and lowers the price target from $209 to $197.

Downgrades

Stifel Downgrades Old Dominion Freight Line to Hold, Lowers Price Target to $197

Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares are trading slightly lower on Friday. BMO Capital Markets analyst Fadi Chamoun downgraded the company to Market Perform from Outperform and lowered the price <a target="_blank" href="https://www.benzinga.com/quote/USM/analyst-ratings" rel="noreferrer noopener">target to $210 from $214</a>.
The analyst writes that consensus/BMOe F2025 earnings expectations have decreased by 13%/15%. Demand remains muted, and the timeline for a recovery in freight markets continues to be delayed.
The downgrade reflects anticipation of further negative revisions as the recovery timeline for freight markets extends.
Chamoun says that industrial demand, which represents two-thirds of LTL traffic, remains sluggish.
The analyst writes that although loosening monetary policy is expected to boost volume eventually, the delay between lower rates and a resurgence in demand extends the potential recovery timeline into H2 2025 or beyond.
With multiples at record highs, the near-term margin of safety is limited, adds the analyst.
The analyst reduced the below-consensus forecast for FY25 by 2.5% to $6.00 (versus consensus at $6.27) and for FY26 by 3.3% to $7.06 (compared to consensus of $7.15).
Investors can gain exposure to the stock via&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and&nbsp;ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUPL#NYSE">SUPL</a>).
Price Action: ODFL shares are down 0.82% at $199.86 at the last check Friday.
Photo via Shutterstock
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Analyst Color

Old Dominion Freight Line Faces Sluggish Industrial Demand, Analyst Downgrades Stock

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup analyst Andrew Schmidt downgraded the rating for Q2 Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QTWO#NYSE">QTWO</a>) from Buy to Neutral but raised the price target from $72 to $90. Q2 Holdings shares closed at $80.42 on Thursday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/QTWO/analyst-ratings">how </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">other analysts view this stock</a>.</li>
<li>Lake Street analyst Jacob Stephan downgraded Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) from Buy to Hold and announced a $10 price target. Zuora shares closed at $9.42 on Thursday. <a href="https://www.benzinga.com/quote/ZUO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Scotiabank analyst Maher Yaghi downgraded T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) from Sector Outperform to Sector Perform but increased the price target from $215.5 to $236. T-Mobile US shares closed at $219.76 on Thursday. <a href="https://www.benzinga.com/quote/TMUS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital analyst Fadi Chamoun downgraded the rating for Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Outperform to Market Perform and lowered the price target from $214 to $210. Old Dominion shares closed at $203.49 on Thursday. <a href="https://www.benzinga.com/quote/ODFL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5df0d202bffdfc000193c4f3/mike-matson">Needham analyst Mike Matson</a> downgraded the rating for Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) from Buy to Hold and maintained the price target of $86. Boston Scientific shares closed at $87.00 on Thursday. <a href="https://www.benzinga.com/quote/BSX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying BSX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="510" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-1024x510.png" alt="" class="wp-image-602750" style="width:673px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-1024x510.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164-768x382.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18093408/image-164.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Markets

QTWO

This Boston Scientific Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday

BMO Capital analyst Fadi Chamoun downgrades Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) from Outperform to Market Perform and lowers the price target from $214 to $210.

BMO Capital Downgrades Old Dominion Freight Line to Market Perform, Lowers Price Target to $210

Old Dominion Freight Line's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NYSE">ODFL</a>) short percent of float has risen 9.22% since its last report. The company recently reported that it has 6.64 million shares sold short, which is 5.21% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.42 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Old Dominion Freight Line Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729013424_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Old Dominion Freight Line has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Old Dominion Freight Line's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Old Dominion Freight Line's peer group average for short interest as a percentage of float is 4.71%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Old Dominion Freight Line's Recent Short Interest

When asked about CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) on CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said, &#8220;I think <a href="https://www.benzinga.com/topic/pharmacy">there's real value here</a>.&#8221;
On Oct. 10, Barclays analyst Andrew Mok upgraded CVS Health from Equal-Weight to Overweight and raised the price target from $63 to $82.
Cramer also recommends buying Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), saying it had an &#8220;<a href="https://www.benzinga.com/quote/MU">amazing&#8221; quarter</a>.
On Oct. 8, Keybanc analyst John Vinh maintained Micron Technology with an Overweight and lowered the price target from $145 to $135.
Although Cramer believes Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) will have a good year, but he prefers the stock of Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>).
On Oct. 9, Citigroup analyst Ariel Rosa initiated coverage on Old Dominion Freight Line with a Neutral rating and announced a price target of $206.
The &#8220;Mad Money&#8221; host recommended not touching American Tower (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>).
On Oct. 10, Barclays analyst Tim Long maintained American Tower with an Overweight and raised the price target from $223 to $255.
Cramer said Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) is going higher, adding that it is one of the greatest stocks of his time.
Howmet Aerospace will announce its third quarter 2024 financial results on Wednesday, Nov. 6.
ADMA Biologics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADMA#NASDAQ">ADMA</a>) is a &#8220;very speculative&#8221; stock, Cramer said.
On Sept. 20, Cantor Fitzgerald analyst Kristen Kluska reiterated ADMA Biologics with an Overweight and maintained a $20 price target.
Cramer recommended buying Modine Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>). &#8220;It's just one of these great metal-bending companies,&#8221; he added.
On Sept. 24, DA Davidson analyst Matt Summerville maintained Modine Manufacturing with a Buy and raised the price target from $140 to $155.
Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) is a buy, Cramer said.
On Oct. 8, Piper Sandler analyst Patrick Moley maintained Robinhood with an Overweight and maintained a $27 price target.
Price Action:
<ul>
<li>Old Dominion shares gained 0.1% to settle at $194.59 on Thursday.</li>
<li>Micron shares gained 3.9% to close at $105.69.</li>
<li>American Tower shares fell 1.3% to close at $217.90 on Thursday.</li>
<li>Howmet Aerospace shares fell 1.5% to close at $102.10 during the session.</li>
<li>Modine Manufacturing shares fell 2.3% to settle at $130.95 on Thursday.</li>
<li>ADMA Biologics shares fell 16.3% to settle at $17.01.</li>
<li>Robinhood shares fell 0.6% to close at $25.50 on Thursday.</li>
<li>CVS shares gained 1.3% to close at $66.85 on Thursday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41272079/top-2-health-care-stocks-that-are-ticking-portfolio-bombs">Top 2 Health Care Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>
Image: Shutterstock

Long Ideas

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Goldman Sachs analyst Jordan Alliger maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Neutral and lowers the price target from $228 to $216.

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The freight and logistics industry is booming thanks to the growing demand, substantial infrastructure investments, and trade growth. Thus, quality trucking freight stocks Old Dominion Freight Line (ODFL), C.H. Robinson Worldwide (CHRW), and ArcBest (ARCB) could be ideal watchlist additions for now. Read more... The freight and logistics market is set for a rebound propelled by the expanding commercial activities globally. Also, easy access and convenience through digital technologies are fueling worldwide consumption and demand.
Considering the industry's bright outlook, it could be wise to watch fundamentally sound trucking freight stocks Old Dominion Freight Line, Inc. (<a href="https://stocknews.com/stock/ODFL/">ODFL</a>), C.H. Robinson Worldwide, Inc. (<a href="https://stocknews.com/stock/CHRW/">CHRW</a>), and ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>) with strengthening global trade trends.
After a slump in 2023 owing to high inflation and rising interest rates, global trade is experiencing an uptrend in 2024. During the first quarter, the <a href="https://unctad.org/news/global-trade-resumes-growth-first-quarter-2024#:~:text=The%20report%20expects%20the%20increase,the%20second%20half%20of%202023.">value of trade in goods increased</a> by around 1% quarter-over-quarter, and services grew by 1.5%. The growth was accelerated by positive trade dynamics for the United States and some developing countries.
Also, in a recent update of <a href="https://www.wto.org/english/news_e/news24_e/stat_10oct24_e.htm#:~:text=In%20the%20October%202024%20update,the%20year%20and%20in%202025.">Global Trade Outlook and Statistics</a>, WTO economists noted global merchandise trade growth of 2.3% year-on-year in the first half of 2024 and expect moderate expansion ahead in the year and in 2025.
Despite lingering geopolitical tensions and increased economic policy uncertainty, the global goods trade is expected to grow 2.7% in 2024, up from the prior estimate of 2.6%. Also, the volume of world merchandise trade is likely to exhibit a 3.0% increase in 2025.
Amid this, the <a href="https://www.mordorintelligence.com/industry-reports/united-states-freight-logistics-market/market-size">United States freight and logistics market</a> is expected to value $1.33 trillion in 2024. It is expected to grow to $1.67 trillion by 2030, exhibiting a 3.90% CAGR, driven by the rising e-commerce trade, technological advancement, rising consumption across the globe, and steady infrastructure investments.
Also, the global road freight transport market is projected to see strong growth and reach around $136.38 billion in 2028, growing at a <a href="https://www.thebusinessresearchcompany.com/report/road-freight-transport-global-market-report">CAGR of 6.5%</a>. Trends like green initiatives and sustainability, digitalization, artificial intelligence, resilience, and supply chain visibility support the sector's expansion.
With these encouraging trends in mind, let's delve into the fundamentals of the three top <a href="https://stocknews.com/category/trucking-freight/">Trucking Freight</a> stock picks, beginning with the third choice.
Stock #3: Old Dominion Freight Line, Inc. (<a href="https://stocknews.com/stock/ODFL/">ODFL</a>)
ODFL operates as a less-than-truckload motor carrier. The company provides regional, inter-regional, and national less-than-truckload services, and expedited transportation. The company also offers various value-added services, including container drayage, truckload brokerage, and supply chain consulting.
On October 17, ODFL's Board of Directors declared a quarterly cash dividend of $0.26 per share, payable on December 18, 2024, to shareholders of record at the close of business on December 4, 2024. The dividend payment represents a 30% increase from the quarterly cash dividend paid in December 2023.
ODFL's annual dividend of $1.04 translates to a yield of 0.53% at the current share price. Its four-year average dividend yield is 0.35%. Also, the company's dividend payouts have increased at a CAGR of 37.7% over the past three years. ODFL has raised its dividends for 6 consecutive years.
ODFL's total <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> increased 6.1% year-over-year to $1.50 billion during the second quarter, which ended June 30, 2024. The company reported operating income of $421.69 million, up 7.7% from the prior-year period. Its net income and EPS came in at $322.04 million and $1.48, indicating growth of 10.2% and 11.3% year-over-year, respectively.
In addition, as of June 30, 2024, the company's cash and cash equivalents stood at $74.30 million, compared to $433.80 million as of December 31, 2023.
Street expects ODFL's revenue for the fiscal year (ending December 2025) to increase 6.1% year-over-year to $6.33 billion. The company's EPS is expected to grow 12.4% year-over-year to $6.24 over the same year. Moreover, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of ODFL have surged 1.6% over the past month and 2.2% over the past year to close the last trading session at $198.05.
ODFL's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
ODFL has a B grade for Quality. It is ranked #10 out of 17 stocks in the <a href="https://stocknews.com/category/trucking-freight/">Trucking Freight</a> industry.
In addition to the POWR Ratings we've stated above, we also have ODFL's ratings for Value, Growth, Momentum, Sentiment, and Stability. Get all ODFL ratings <a href="https://stocknews.com/stock/ODFL/">here</a>.
Stock #2: C.H. Robinson Worldwide, Inc. (<a href="https://stocknews.com/stock/CHRW/">CHRW</a>)
CHRW provides freight transportation services and related logistics and supply chain services internationally. It operates through two segments, North American Surface Transportation; and Global Forwarding. It provides transportation and logistics services, like truckload and less-than-truckload transportation brokerage services.
On August 8, CHRW's Board of Directors declared an increase to its regular quarterly cash dividend to $0.62 per share from $0.61 per share, paid on October 1, 2024, to shareholders of record on September 6, 2024.
CHRW pays an annual dividend of $2.48, which translates to a yield of 2.28% at the current share price. Its four-year average dividend yield is 2.41%. Moreover, the company's dividend payouts have increased at a CAGR of 6.3% over the past three years. CHRW has raised its dividends for 26 consecutive years.
On July 30, CHRW arrived at the strategic decision to sell its European Surface Transportation business to Sennder Technologies GmbH, the leading digital road freight forwarder in Europe. This was part of its enterprise strategy to get fit, fast, and focused.
The move will also drive focus on profitable growth in its four core modes – North American truckload, less-than-truckload, and global ocean and air – as the engines to create the most value for its stakeholders.
For the second quarter that ended June 30, 2024, CHRW's total revenues increased 1.4% year-over-year to $4.48 billion, and its adjusted gross profit grew 3.3% from the year-ago value to $687.41 million. The company's adjusted income from operations was $193.28 million for the quarter, up 31.7% year-over-year.
In addition, CHRW's non-GAAP net income of $137.79 million or $1.15 per share reflects increases of 25.1% and 25% from the prior year's quarter, respectively.
Analysts expect CHRW's revenue and EPS for the third quarter (ended September 2024) to increase 4.5% and 36.7% year-over-year to $4.54 billion and $1.15, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of CHRW have surged 53.9% over the past six months and 29.3% over the past year to close the last trading session at $108.88.
CHRW's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Growth. Within the same industry, CHRW is ranked #6 of 17 stocks.
<a href="https://stocknews.com/stock/CHRW/">Click here</a> to access additional ratings of CHRW for Quality, Value, Momentum, Sentiment, and Stability.
Stock #1: ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>)
ARCB engages in the provision of ground, air, and ocean transportation solutions. It operates in Asset-Based and Asset-Light segments. The company provides less-than-truckload (LTL) services that transport general commodities like food, textiles, apparel, and furniture.
On October 10, ARCB announced that its household goods moving service, U-Pack&#xAE; partnered with Affirm to provide financing options for long-distance moves. Through the collaboration, customers who apply and are qualified can book a move now and pay on a payment plan later. The innovative payment plans will help customers manage their long-distance moving costs.
On August 6, ARCB joined TriumphPay as a full audit and payments network participant. This is a part of ARCB's strategy to better serve carriers, improve operational efficiency, and enhance payment security.
In the second quarter that ended June 30, 2024, ARCB reported revenues of $1.08 billion. Its non-GAAP operating income grew 28.1% from the prior year's quarter to $64.20 million. Its non-GAAP net income and EPS of $47.38 million and $1.98 indicate 24.8% and 28.6% growth from the year-ago value, respectively.
Furthermore, the company's consolidated adjusted EBITDA from continuing operations rose 24.3% from the prior year's quarter to $94.86 million.
Street expects ARCB's revenue and EPS for the first quarter (ending March 2025) to increase 3.5% and 20.3% year-over-year to $1.07 billion and $1.61, respectively. The company has topped the consensus revenue estimates in all four trailing quarters.
Over the past year, ARCB's stock has surged 8.2% to close the last trading session at $101.86.
ARCB's POWR Ratings reflect its bright prospects. The stock has a B grade for Value and Growth. ARCB has topped among the 17 stocks in the Trucking Freight industry.
<a href="https://stocknews.com/stock/ARCB/">Click here</a> to access additional ratings of ARCB for Momentum, Sentiment, Quality, and Stability.
What To Do Next?
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ODFL shares were unchanged in after-hours trading Tuesday. Year-to-date, ODFL has declined -1.20%, versus a 23.88% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/odfl-chrw-arcb-3-freight-and-logistics-stocks-to-watch-as-global-trade/>3 Freight and Logistics Stocks to Watch as Global Trade Rebounds</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Press Releases

Old Dominion Freight Line Announces $0.26 Per Share Quarterly Cash Dividend

Old Dominion Freight Line Provides Update for Second Quarter 2024

Old Dominion Freight Line to Webcast Second Quarter 2024 Conference Call

Old Dominion Freight Line Releases 2023 ESG Data Supplement

Old Dominion Freight Line Reports Second Quarter 2024 Earnings Per Diluted Share of $1.48

Old Dominion Freight Line Provides Update for Third Quarter 2024

Old Dominion Freight Line to Webcast Third Quarter 2024 Conference Call

Old Dominion Freight Line Reports Third Quarter 2024 Earnings Per Diluted Share of $1.43

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