FedEx Freight (NYSE:FDXF) Sets New 12-Month Low – Time to Sell?

FedEx Freight Hldg Co (NYSE:FDXF) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $128.71 and last traded at $129.2310, with a volume of 1135587 shares changing hands. The stock had previously closed at $131.27.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FDXF shares. Citigroup started coverage on shares of FedEx Freight in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. Stifel Nicolaus began coverage on shares of FedEx Freight in a report on Thursday, June 4th. They issued a “hold” rating and a $160.00 price objective on the stock. Wolfe Research assumed coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They set an “outperform” rating and a $180.00 price objective for the company. Stephens began coverage on shares of FedEx Freight in a report on Wednesday, July 8th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, Jefferies Financial Group began coverage on FedEx Freight in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.90.

FedEx Freight Stock Performance

The firm’s fifty day simple moving average is $147.17.

FedEx Freight (NYSE:FDXF) last issued its earnings results on Thursday, June 25th. The company reported $0.00 EPS for the quarter. Research analysts forecast that FedEx Freight Hldg Co will post 5.48 EPS for the current year.

Institutional Investors Weigh In On FedEx Freight

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new position in FedEx Freight in the second quarter valued at approximately $3,615,235,000. Maple Rock Capital Partners Inc. purchased a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $68,207,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of FedEx Freight in the 2nd quarter valued at $19,666,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FedEx Freight in the 2nd quarter valued at $10,838,000. Finally, Ancora Advisors LLC acquired a new stake in FedEx Freight during the 2nd quarter worth $8,279,000.

FedEx Freight Company Profile

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.