1 Top Dividend Stock That Could Soar in a Good Economy
This trucking company is well positioned for the next economic boom.
When economic uncertainty lingers, investors often seek out durable, high-quality businesses. One company that fits the bill is Old Dominion Freight Line (NASDAQ: ODFL). Even better, the stock is arguably on sale today. Shares of the less-than-truckload freight specialist are down more than 30% from their 52-week high. That pullback might look concerning at first glance. But, for long-term investors, this decline could be an opportunity.
Sure, the company's earnings have pulled back during a cyclical downturn in freight. But they could improve drastically if consumer confidence improves and the economy ramps up. Here's why investors shouldn't wait for the economy to improve before considering buying shares of this dividend payer, with its strong balance sheet and proven pricing power.
Image source: Getty Images.
