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Old Dominion Freight Line (ODFL) operates as a less-than-truckload (LTL) motor carrier in the United States. It provides regional, inter-regional, and national LTL services. The company also provides logistics services, including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage, container delivery, and warehousing services, as well as consumer household moving services. In addition, the company offers door-to-door international freight services to and from North America, Central America, South America, and the Far East.
As of December 31, 2011, it owned a fleet of 5,830 tractors and 22,685 trailers, as well as operated 216 service centers.
The firm reported its quarterly results on August 14th. The results were better than expected. It also declared a 3-for-2 stock split. The report has propelled shares into a bullish "flag" formation. We are now hearing rumors of good news for this stock.
One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares. Note that its average daily trading volume is 265K. Naming of the stock by this service, is expected to create added demand for the shares which should push the shares higher out of this bullish formation. Be sure to use a limit order and not a market order.
Stock's 52-week trading range: $18.27 - $32.87.
Shares last traded at: $30.33
Stop Loss: $28.81
Target Price: $33.35
ODFL has announced a stock split of 3:2 effective today. We've adjusted our prices on this trade accordingly.
