FedEx Freight (NYSE:FDXF) Releases Quarterly Earnings Results

FedEx Freight (NYSE:FDXF) posted its earnings results on Thursday. The company reported $999.00 earnings per share for the quarter, Zacks reports.

FedEx Freight Price Performance

Shares of FedEx Freight stock traded down $2.40 on Thursday, reaching $158.05. The stock had a trading volume of 1,209,106 shares, compared to its average volume of 2,435,775. FedEx Freight has a 1 year low of $141.33 and a 1 year high of $194.27.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Evercore started coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They set an “outperform” rating and a $168.00 price target on the stock. Zacks Research upgraded shares of FedEx Freight to a “hold” rating in a research note on Tuesday, June 2nd. Bank of America assumed coverage on shares of FedEx Freight in a report on Monday, June 1st. They set a “buy” rating and a $185.00 target price on the stock. Truist Financial initiated coverage on FedEx Freight in a research report on Tuesday, June 2nd. They set a “hold” rating on the stock. Finally, Raymond James Financial initiated coverage on FedEx Freight in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $180.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.83.

FedEx Freight is the less-than-truckload (LTL) freight transportation unit of FedEx Corporation, providing time-definite shipping services for business and industrial customers in North America. The company specializes in moving palletized freight that is too large for parcel networks but does not require a full truckload, offering options such as priority and economy service levels to help customers balance speed and cost.

The business operates a network of service centers and terminals designed to consolidate, sort, and deliver freight efficiently across the United States, Canada, and Puerto Rico.