On Wednesday, the Relative Strength (RS) Rating for Old Dominion Freight Line (ODFL), one of the biggest trucking firms, rose to 73, up from 69 the day before. The 73 RS Rating means that Old Dominion stock has outperformed 73% of all stocks over the past year.
Stocks that go on to make the biggest gains often have an 80 or higher RS Rating in the early stages of their moves. See if Old Dominion stock can continue to show renewed price strength and hit that benchmark.
Other Old Dominion Stock Key Ratings
Space travel is on the verge of becoming real and people and goods may soon be whisked around the world and into space. And Elon Musk’s proposed hyperloop may one day transport people and goods at many times faster rates than possible today. For today though, trucks still rule the road, carrying staples and discretionary items nationwide.
And Old Dominion stock is among the top-rated in its group. Among its other ratings, it has a 93 EPS Rating, out of 99. That indicates strong recent and long-term profit growth. And its 90 IBD Composite Rating puts it among the best stocks.
IBD’s Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
One thing to watch; it has a D- Accumulation/Distribution Rating, which gauges buying by large institutions. The D- rating means funds are selling more shares than buying.
Regarding top and bottom line numbers, the company has posted four quarters of increasing earnings growth. Top line growth has also risen during the same period. In its most recent quarter EPS climbed 85% to $2.31 on a 47% jump in revenue to $1.32 billion.
Among Top 5 In Group
Old Dominion Freight Line is trying to complete a flat base with a 276.19 buy point. See if it can clear the breakout price in heavy trade. It’s a later-stage pattern, and investors should be aware that those are less likely to lead to significant gains.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price movement over the last 52 weeks stacks up against all the other stocks in our database.
YOU MIGHT ALSO LIKE: