FedEx Freight (NYSE:FDXF) Shares Up 6.9% – Time to Buy?

FedEx Freight Hldg Co (NYSE:FDXF) shot up 6.9% during trading on Thursday . The company traded as high as $150.36 and last traded at $151.6310. Approximately 700,734 shares changed hands during trading, a decline of 67% from the average session volume of 2,148,922 shares. The stock had previously closed at $141.80.

Wall Street Analyst Weigh In

FDXF has been the topic of a number of recent research reports. Truist Financial started coverage on shares of FedEx Freight in a research note on Tuesday, June 2nd. They set a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of FedEx Freight in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective for the company. Raymond James Financial began coverage on FedEx Freight in a report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 target price for the company. Citizens Jmp assumed coverage on FedEx Freight in a research report on Wednesday. They set a “market outperform” rating and a $190.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a report on Friday, June 26th. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $177.90.

FedEx Freight Stock Down 0.1%

FedEx Freight (NYSE:FDXF) last released its quarterly earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter.

FedEx Freight Company Profile

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.