FedEx Freight (NYSE:FDXF) Reaches New 12-Month Low – What’s Next?

FedEx Freight Hldg Co (NYSE:FDXF)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $126.75 and last traded at $127.9850, with a volume of 356761 shares trading hands. The stock had previously closed at $133.74.

Wall Street Analyst Weigh In

A number of research firms recently commented on FDXF. Zacks Research upgraded shares of FedEx Freight to a “hold” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group assumed coverage on FedEx Freight in a research report on Wednesday, July 1st. They issued a “buy” rating and a $186.00 target price for the company. Raymond James Financial began coverage on FedEx Freight in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price target for the company. Evercore started coverage on FedEx Freight in a research report on Thursday, June 4th. They set an “outperform” rating and a $168.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on FedEx Freight in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.90.

FedEx Freight Price Performance

The firm’s fifty day simple moving average is $146.02.

FedEx Freight (NYSE:FDXF) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. On average, sell-side analysts predict that FedEx Freight Hldg Co will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FedEx Freight

Hedge funds and other institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in FedEx Freight in the 2nd quarter worth about $44,000. United Community Bank purchased a new stake in FedEx Freight during the second quarter valued at about $46,000. Syntax Research Inc. purchased a new stake in FedEx Freight during the second quarter valued at about $64,000. First Bancorp Inc ME acquired a new position in shares of FedEx Freight in the second quarter worth about $80,000. Finally, Investors Research Corp acquired a new position in shares of FedEx Freight in the second quarter worth about $80,000.

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.