FedEx Freight (NYSE:FDXF) Sets New 1-Year Low – Here’s What Happened

FedEx Freight Hldg Co (NYSE:FDXF)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $121.82 and last traded at $122.5370, with a volume of 448224 shares traded. The stock had previously closed at $126.94.

Analysts Set New Price Targets

Several equities analysts have issued reports on FDXF shares. JPMorgan Chase & Co. started coverage on shares of FedEx Freight in a research note on Tuesday, September 8th. They issued an “overweight” rating and a $160.00 price objective for the company. Wall Street Zen upgraded FedEx Freight to a “hold” rating in a research report on Saturday, June 6th. Evercore assumed coverage on FedEx Freight in a report on Thursday, June 4th. They issued an “outperform” rating and a $168.00 target price for the company. The Goldman Sachs Group assumed coverage on FedEx Freight in a report on Wednesday, July 1st. They issued a “buy” rating and a $186.00 target price for the company. Finally, Citigroup initiated coverage on FedEx Freight in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $172.67.

FedEx Freight Stock Performance

The firm’s fifty day simple moving average is $140.16.

FedEx Freight (NYSE:FDXF) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. Research analysts predict that FedEx Freight Hldg Co will post 4.8 EPS for the current year.

Institutional Investors Weigh In On FedEx Freight

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Maple Rock Capital Partners Inc. purchased a new position in shares of FedEx Freight during the second quarter worth about $68,207,000. Allianz Asset Management GmbH purchased a new stake in FedEx Freight during the 2nd quarter valued at approximately $50,888,000. National Pension Service purchased a new stake in FedEx Freight during the 2nd quarter valued at approximately $26,648,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in FedEx Freight during the 2nd quarter valued at approximately $19,666,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in FedEx Freight during the 2nd quarter worth approximately $10,838,000.

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.

The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.