#4 - Old Dominion Freight Line (NASDAQ:ODFL)
One way to consider sector stocks to buy is to look at the stocks that are drawing attention from institutional investors. That’s the case with Old Dominion Freight Line (NASDAQ:ODFL). The company just got its price target boosted by Morgan Stanley (NYSE:MS). But since Morgan Stanley released its new price targets three additional analysts have weighed in. Each has boosted their targets. And each target is higher than the current consensus price target.
Another sign that a stock is a good long-term buy is strong interest from institutional investors. Currently ODFL stock has 70% institutional ownership. The company also issues a dividend that it has increased over 125% in the last two years. With many companies cutting or suspending their dividends during the pandemic, that gave investors who bought into ODFL stock a nice total return.
ODFL stock is already up 63% in 2021. The company is number 8 on the MarketBeat list of 100 Transportation Stocks
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.
Read More - Current Price
- $222.91
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 14 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $196.39 (11.9% Downside)
