FedEx Freight (NYSE:FDXF) Hits New 52-Week Low – Here’s Why

FedEx Freight Hldg Co (NYSE:FDXF) hit a new 52-week low on Thursday . The stock traded as low as $135.05 and last traded at $133.9320, with a volume of 43892 shares. The stock had previously closed at $138.17.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FDXF shares. Bank of America initiated coverage on FedEx Freight in a report on Monday, June 1st. They set a “buy” rating and a $185.00 price objective for the company. Citigroup initiated coverage on FedEx Freight in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of FedEx Freight in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 target price for the company. Wall Street Zen upgraded shares of FedEx Freight to a “hold” rating in a report on Saturday, June 6th. Finally, The Goldman Sachs Group began coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They issued a “buy” rating and a $186.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.90.

FedEx Freight Price Performance

The stock has a 50 day moving average of $151.36.

FedEx Freight (NYSE:FDXF) last issued its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. On average, equities analysts anticipate that FedEx Freight Hldg Co will post 5.47 earnings per share for the current fiscal year.

Institutional Trading of FedEx Freight

A number of hedge funds have recently added to or reduced their stakes in FDXF. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of FedEx Freight in the 2nd quarter worth approximately $19,666,000. Ancora Advisors LLC purchased a new position in FedEx Freight during the second quarter valued at approximately $8,279,000. Pacific Heights Asset Management LLC purchased a new position in FedEx Freight during the second quarter valued at approximately $6,418,000. Public Employees Retirement System of Ohio bought a new position in FedEx Freight in the second quarter worth approximately $5,884,000. Finally, Kiltearn Partners LLP bought a new position in FedEx Freight in the second quarter worth approximately $1,727,000.

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.