Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Old Dominion Freight Line, Inc shares valued at $1,621,402 were purchased by CONGDON EARL E on Nov 19 ’24. At $213.99 per share, CONGDON EARL E acquired 7,577 shares.
Also, SUGGS LEO H sold 3,000 shares, netting a total of over 676,320 in proceeds. Following the sale of shares at $225.44 each, the insider now holds 7,383 shares.
Before that, CONGDON DAVID S had sold 60,000 shares from its account. In a trade valued at $13,578,000, the Executive Chairman traded Old Dominion Freight Line, Inc shares for $226.30 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $249.5 million.
As published in a research note from Susquehanna on January 07, 2025, Old Dominion Freight Line, Inc [ODFL] has been rated down from a Positive to a Neutral and the price target has been revised to $195. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid November. As of October 21, 2024, Stifel has decreased its “Buy” rating to a “Hold” for ODFL. Earlier on October 18, 2024, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for ODFL stock which previously was a “an Outperform”.
Analyzing ODFL Stock Performance
During the last five days, there has been a surge of approximately 2.82%. Over the course of the year, Old Dominion Freight Line, Inc shares have jumped approximately 7.02%. Shares of the company reached a 52-week high of $191.65 on 01/21/25 and a 52-week low of $174.85 on 01/02/25. A 50-day SMA is recorded $201.01, while a 200-day SMA reached $194.42. Nevertheless, trading volume fell to 1.37 million shares from 1.44 million shares the previous day.
Support And Resistance Levels for Old Dominion Freight Line, Inc (ODFL)
According to the 24-hour chart, there is a support level at 187.82, which, if violated, would cause prices to drop to 186.85. In the upper region, resistance lies at 190.58. The next price resistance is at 192.37. RSI (Relative Strength Index) is 49.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.58, which suggests the price will increase in the coming days. Percent R is at 17.02%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
