FedEx Freight (NYSE:FDXF) Reaches New 52-Week Low – Time to Sell?

FedEx Freight Hldg Co (NYSE:FDXF)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $103.51 and last traded at $104.3880, with a volume of 237,435 shares changing hands. The stock had previously closed at $108.50.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FDXF. Truist Financial decreased their target price on shares of FedEx Freight from $155.00 to $115.00 and set a “hold” rating on the stock in a research report on Wednesday, October 7th. Citigroup assumed coverage on shares of FedEx Freight in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. decreased their price objective on shares of FedEx Freight from $160.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Citizens Jmp assumed coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 price objective on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They set a “market perform” rating and a $133.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.85.

FedEx Freight Price Performance

The stock has a 50-day simple moving average of $120.26.

Institutional Investors Weigh In On FedEx Freight

Several institutional investors and hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC acquired a new stake in FedEx Freight in the 3rd quarter valued at about $26,000. CYBER HORNET ETFs LLC purchased a new position in FedEx Freight during the 2nd quarter valued at about $44,000. United Community Bank acquired a new position in FedEx Freight during the second quarter worth about $46,000. Syntax Research Inc. acquired a new position in FedEx Freight during the second quarter worth about $64,000. Finally, MCF Advisors LLC acquired a new position in FedEx Freight during the second quarter worth about $65,000.

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) freight transportation company that provides pickup, consolidation, transportation and delivery services for shipments that do not require a full truck. Its customers include businesses across manufacturing, retail, wholesale, healthcare, technology and other industries.

The company offers a range of LTL solutions, including time-definite and day-definite services, standard and economy freight transportation, expedited shipping, volume and multiweight services, and specialized delivery options.