Shares of Old Dominion Freight Line (ODFL) Sees Large Outflow of Money

Old Dominion Freight Line (ODFL) : The total money flow in Old Dominion Freight Line (ODFL) was negative ($9.03 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $11.56 million. Transactions on upticks were comparatively lower at $2.53 million. The uptick to downtick ratio was 0.22. The total block trades on downticks were valued at $9.39 million. The money flow during block trades was negative ($9.39 million) when the stock traded with a gain of $63 cent. Old Dominion Freight Line (ODFL) was $69.79, an increase of 0.91% over the previous days close.


Also, In a research note released to the investors, Deutsche Bank maintains its rating on Old Dominion Freight Line (NASDAQ:ODFL).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $67 per share to $71 per share. The rating by the firm was issued on July 29, 2016.

Shares of Old Dominion Freight Line Inc. rose by 1.39% in the last five trading days and 1.99% for the last 4 weeks. Old Dominion Freight Line Inc. is up 11.41% in the last 3-month period. Year-to-Date the stock performance stands at 19.81%.

Old Dominion Freight Line (NASDAQ:ODFL): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $69.78 and $69.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $71.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $70.77, notching a gain of 1.40% for the day. The total traded volume was 423,945 . The stock had closed at $69.79 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Vice Chairman and CEO) of Old Dominion Freight Line Inc/Va, Congdon David S had sold 1,660 shares worth of $115,818 in a transaction dated August 16, 2016. In this transaction, 1,660 shares were sold at $69.77 per share.

Old Dominion Freight Line, Inc. (Old Dominion) is a less-than-truckload (LTL) motor carrier providing regional, inter-regional and national LTL service and logistics services. In addition to its LTL services, it offers a range of services including international freight forwarding, ground and air expedited transportation, container delivery, truckload brokerage, supply chain consulting, warehousing and consumer household pickup and delivery. Its infrastructure allows it to provide next-day and second-day service within each of its six regions covering the continental United States, as well as inter-regional and national service between these regions. As of December 31, 2014, it operated through 222 service center locations, of which it owned 176 and leased 46. As of December 31, 2014, it owned 6,907 tractors. As of December 31, 2014, it owned 27,259 trailers.

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