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Why Old Dominion Freight Line (ODFL) is a Top Growth Stock for the Long-Term

·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Old Dominion Freight Line (ODFL)

Old Dominion Freight Line, founded in 1934, is a leading LTL company. The company based in Thomasville, NC, offers LTL services on a regional, inter-regional and national basis. The services are inclusive of ground and air expedited transportation, apart from consumer household pickup and delivery through a single integrated organization.

ODFL boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 32.7% year-over-year for 2022, while Wall Street anticipates its top line to improve by 21.4%.

Seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.38 to $11.80 per share for 2022. ODFL boasts an average earnings surprise of 7%.

Old Dominion Freight Line is also cash rich. The company has generated cash flow growth of 21.7%, and is expected to report cash flow expansion of 38.6% in 2022.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ODFL should be on investors' short lists.


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