Old Dominion Freight Line Inc (ODFL) stock has risen 5.20% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With ODFL Stock Today?
Old Dominion Freight Line Inc (ODFL) stock is higher by 0.96% while the S&P 500 has fallen -0.27% as of 2:54 PM on Tuesday, Mar 2. ODFL is higher by $2.11 from the previous closing price of $220.52 on volume of 351,204 shares. Over the past year the S&P 500 has risen 25.92% while ODFL is higher by 66.90%. ODFL earned $5.68 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 39.24.
More About Old Dominion Freight Line Inc
Old Dominion Freight Line is the third- largest less-than-truckload carrier in the United States, with more than 235 service centers and 9,200-plus tractors. OD is by far one of the most disciplined and efficient providers in the trucking industry, and its profitability and capital returns stand head and shoulders above its peers. Strategic initiatives revolve around increasing network density through market share gains and maintaining industry- leading service via consistent infrastructure investment.