FedEx Freight (NYSE:FDXF) Reaches New 1-Year Low – Should You Sell?

FedEx Freight Hldg Co (NYSE:FDXF) reached a new 52-week low during trading on Wednesday . The stock traded as low as $128.71 and last traded at $129.2310, with a volume of 1135587 shares changing hands. The stock had previously closed at $131.27.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FDXF. Citizens Jmp initiated coverage on FedEx Freight in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 target price on the stock. BMO Capital Markets lifted their price target 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. Wolfe Research initiated coverage on shares of FedEx Freight in a report on Thursday, June 4th. They set an “outperform” rating and a $180.00 price objective on the stock. Evercore began coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They issued an “outperform” rating and a $168.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of FedEx Freight in a research report on Wednesday, July 1st. They set a “buy” rating and a $186.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, FedEx Freight currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.90.

FedEx Freight Stock Down 1.6%

The stock’s 50 day simple moving average is $148.37.

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. Equities analysts forecast that FedEx Freight Hldg Co will post 5.48 EPS for the current year.

Institutional Investors Weigh In On FedEx Freight

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in FedEx Freight in the 2nd quarter valued at about $3,615,235,000. Maple Rock Capital Partners Inc. purchased a new position in shares of FedEx Freight in the 2nd quarter worth approximately $68,207,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of FedEx Freight in the 2nd quarter worth approximately $19,666,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of FedEx Freight in the second quarter valued at approximately $10,838,000. Finally, Ancora Advisors LLC bought a new position in shares of FedEx Freight in the second quarter valued at approximately $8,279,000.

About FedEx Freight

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.