FedEx Freight (NYSE:FDXF) Sets New 12-Month Low – Here’s Why

FedEx Freight Hldg Co (NYSE:FDXF)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $122.90 and last traded at $123.5130, with a volume of 49499 shares trading hands. The stock had previously closed at $124.79.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on FedEx Freight from $140.00 to $150.00 and gave the stock a “market perform” rating in a research note on Friday, June 26th. Stephens assumed coverage on shares of FedEx Freight in a report on Wednesday, July 8th. They issued an “overweight” rating and a $180.00 price objective for the company. Wolfe Research began coverage on shares of FedEx Freight in a report on Thursday, June 4th. They issued an “outperform” rating and a $180.00 price objective for the company. Citigroup began coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Finally, Bank of America started coverage on shares of FedEx Freight in a research note on Monday, June 1st. They set a “buy” rating and a $185.00 target price on the stock. One research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $172.67.

FedEx Freight Price Performance

The firm’s fifty day simple moving average is $140.99.

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

Institutional Inflows and Outflows

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

About FedEx Freight

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.