Stock Traders Purchase Large Volume of FedEx Freight Put Options (NYSE:FDXF)

FedEx Freight Hldg Co (NYSE:FDXF) was the target of unusually large options trading activity on Friday. Stock investors purchased 4,495 put options on the stock. This is an increase of 938% compared to the typical daily volume of 433 put options.

Hedge Funds Weigh In On FedEx Freight

A number of hedge funds have recently added to or reduced their stakes in FDXF. Kiltearn Partners LLP bought a new stake in FedEx Freight during the 2nd quarter worth approximately $1,727,000. Sumitomo Life Insurance Co. bought a new position in shares of FedEx Freight in the second quarter valued at approximately $194,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of FedEx Freight in the second quarter valued at approximately $984,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of FedEx Freight during the second quarter valued at approximately $19,666,000.

FedEx Freight Trading Down 0.9%

FDXF traded down $1.31 during trading on Friday, hitting $150.68. 277,341 shares of the company’s stock were exchanged, compared to its average volume of 1,724,290. FedEx Freight has a fifty-two week low of $135.64 and a fifty-two week high of $194.27. The firm’s 50 day moving average price is $154.12.

FedEx Freight (NYSE:FDXF) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. As a group, equities analysts forecast that FedEx Freight will post 5.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on FDXF. Citigroup initiated coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 price objective on the stock. Raymond James Financial started coverage on shares of FedEx Freight in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price objective on the stock. Bank of America started coverage on FedEx Freight in a research note on Monday, June 1st. They issued a “buy” rating and a $185.00 target price for the company. Finally, Zacks Research raised FedEx Freight to a “hold” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, FedEx Freight currently has an average rating of “Moderate Buy” and an average target price of $177.90.

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.