Insider transactions at Old Dominion Freight Line tell a story
There was a shift in the market expectations for Old Dominion Freight Line, Inc. (ODFL)'s earnings on 2024-03-09, prior to its next results.
Meeting or exceeding earnings estimates can enhance investor confidence in a company's management and business fundamentals, positively impacting its stock price and reputation. Average revenue has been revised down from 1486180000 to 1483340000. These figure are based on the prediction of 11 analysts.
The average quarterly EPS is placed at 2.71 for the period ending 31-03-2024 with the lower band at 2.59 and higher band at 2.88. When compared to the EPS of 2.58 from a year ago, the current estimate indicates an increase of roughly 0.05. On the other hand lower band of revenue is expected to be at 1420500000 and the higher band at 1530620000. The average revenue is expected to come in at 1483340000. This is an increase of about 0.029000001 from the revenue of 1442140000 from a year ago.
The upsurge in earnings estimates might lead to price hikes before the next results, providing investors with an early entry chance.
Since 12-12-2023, ODFL's insiders were involved in transactions on the stock market.
Understanding insider transactions can help investors manage risk by identifying potential red flags or signals of corporate trouble before they become widely known through official disclosures.
There were no insider transactions on the buy side whereas their sales at an average price of 440.97 In anticipation of the earnings report, insiders have been actively divesting shares, indicating a possibility of negative earnings results and subsequent price shifts.
2024-03-09 marked a change in the price projections given by analysts for ODFL
Analysts, in their research reports provide a range of maximum and minimum price projections for a given stock, which investors can draw on to guide their decisions.Analysts, through their exhaustive research reports, furnish investors with a spectrum of maximum and minimum price projections for a particular stock, aiding investors in making informed decisions. According to a consensus of 15 market analysts, ODFL's future price is anticipated to fall within the range of 345.0 and 515.0, with the mean price expectation resting at about 407.33
Technical Summary
The current price of 428.29 finds support at 371.01 and resistance at 388.83.
The PSAR continues its bearish outlook and sets a level of resistance.
The moving averages for 20-50-100 are aligned bearishly but the slopes for the 20/50 SMAs are starting to waver, indicating a possible move to a bullish price action soon.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
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