Old Dominion Freight Line stock saw a positive improvement to its Relative Strength (RS) Rating on Thursday, with an increase from 76 to 85.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the best-performing stocks tend to have an RS Rating of above 80 in the early stages of their moves.
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Is Old Dominion Freight Line Stock A Buy?
Old Dominion Freight Line stock has been trading below its 50- and 200-day moving averages the past two months. While now is not an ideal time to buy shares, see if the transportation stock goes on to offer and clear a proper buy point.
The transportation trucking firm posted 43% EPS growth in the latest quarterly report, while sales growth came in at 26%. The company is expected to report its latest results on or around Oct. 27.
Old Dominion Freight Line stock holds the No. 7 rank among its peers in the Transportation-Truck industry group. PAM Transportation Services and Tfi International are also among the group's highest-rated stocks.
