In a recent report by Fintel, penned by George Maybach, Morgan Stanley (NYSE:MS) has maintained its Equal-Weight recommendation for Old Dominion Freight Line (NASDAQ:ODFL). The report also projected a 6.59% rise in the company's revenue and a potential 3.37% upside.
Old Dominion Freight Line, a leading player in the logistics sector, is held by institutions with a total of 95,490K shares. The report also discussed the average portfolio weight and bearish put/call ratio.
Notable changes among shareholders include a 7.46% increase in stake by Price T Rowe Associates and a 39.32% increase by Bank of New York Mellon (NYSE:BK). On the other hand, Capital Research Global Investors reduced their holdings by 19.93%.
The holdings of AGTHX - Growth Fund of America and VTSMX - Vanguard Total Stock Market Index Fund Investor Shares in Old Dominion Freight Line were also detailed in the report.
The company's value-added services were outlined as part of the comprehensive data services provided by Fintel for investors.
In addition to the Fintel report, InvestingPro's real-time metrics provide some interesting insights into Old Dominion Freight Line. The company's market cap stands at a significant 44.06B USD, with a P/E ratio of 34.52 and an adjusted P/E ratio for LTM2023.Q2 at 34.91. This indicates that the company is trading at a high earnings multiple, which is in line with one of the InvestingPro Tips. The company's revenue for LTM2023.Q2 is reported at 5950.67M USD, indicating a strong financial performance.
InvestingPro Tips also highlights that Old Dominion Freight Line yields a high return on invested capital and has consistently increased its earnings per share. Furthermore, the company has raised its dividend for six consecutive years, and analysts predict it will continue to be profitable this year. These insights are part of the many additional tips available on InvestingPro, a valuable resource for investors seeking detailed and real-time information on various companies.
In terms of the company's stock performance, the data from InvestingPro shows a 1-year price total return at a high 54.64%, indicating a strong return over the last year. This aligns with the InvestingPro Tip that the company has shown a high return over the last year.
The company's value-added services, coupled with its robust financial performance and positive stock return, make it a compelling consideration for investors. As always, investors are encouraged to conduct their own research and consider various resources, such as InvestingPro's real-time metrics and tips, to make informed decisions.
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