FedEx Freight (NYSE:FDXF) Raised to Hold at Sanford C. Bernstein

FedEx Freight (NYSE:FDXF) was upgraded by equities research analysts at Sanford C. Bernstein to a “hold” rating in a report issued on Thursday, Zacks reports.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of FedEx Freight in a research report on Tuesday. They issued an “overweight” rating and a $160.00 price target on the stock. BMO Capital Markets boosted their price objective on shares of FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a research report on Friday, June 26th. Wall Street Zen upgraded shares of FedEx Freight to a “hold” rating in a research note on Saturday, June 6th. Bank of America assumed coverage on shares of FedEx Freight in a report on Monday, June 1st. They issued a “buy” rating and a $185.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on FedEx Freight in a research note on Wednesday, July 1st. They issued a “buy” rating and a $186.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.67.

FedEx Freight Trading Up 3.3%

Shares of FDXF opened at $128.05 on Thursday. The stock’s fifty day moving average price is $140.99. FedEx Freight has a 12-month low of $122.43 and a 12-month high of $194.27.

FedEx Freight (NYSE:FDXF) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.00 EPS for the quarter. As a group, analysts predict that FedEx Freight will post 4.8 EPS for the current fiscal year.

Institutional Investors Weigh In On FedEx Freight

Large investors have recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in shares of FedEx Freight during the second quarter worth approximately $44,000. United Community Bank bought a new stake in FedEx Freight during the 2nd quarter valued at $46,000. Syntax Research Inc. bought a new stake in FedEx Freight during the 2nd quarter valued at $64,000. MCF Advisors LLC bought a new stake in FedEx Freight during the 2nd quarter valued at $65,000. Finally, First Bancorp Inc ME acquired a new position in FedEx Freight during the 2nd quarter worth $80,000.

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.