FedEx Freight (NYSE:FDXF) Hits New 12-Month Low – Here’s Why

FedEx Freight Hldg Co (NYSE:FDXF) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $116.03 and last traded at $117.65, with a volume of 1658427 shares trading hands. The stock had previously closed at $120.13.

Wall Street Analyst Weigh In

FDXF has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of FedEx Freight in a research report on Tuesday, September 8th. They issued an “overweight” rating and a $160.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They issued a “market perform” rating and a $133.00 target price for the company. Bank of America began coverage on shares of FedEx Freight in a research note on Monday, June 1st. They issued a “buy” rating and a $185.00 price target on the stock. Zacks Research raised FedEx Freight to a “hold” rating in a report on Tuesday, June 2nd. Finally, Stephens started coverage on FedEx Freight in a research report on Wednesday, July 8th. They set an “overweight” rating and a $180.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $172.67.

FedEx Freight Trading Up 0.2%

The company’s 50-day moving average price is $136.89.

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, sell-side analysts forecast that FedEx Freight Hldg Co will post 4.8 earnings per share for the current year.

Hedge Funds Weigh In On FedEx Freight

A number of hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new position in shares of FedEx Freight in the 2nd quarter valued at $723,747,000. Maple Rock Capital Partners Inc. acquired a new stake in FedEx Freight during the 2nd quarter worth about $68,207,000. Allianz Asset Management GmbH acquired a new stake in FedEx Freight during the 2nd quarter worth about $50,888,000. National Pension Service purchased a new stake in FedEx Freight during the second quarter valued at about $26,648,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in FedEx Freight during the second quarter valued at about $19,666,000.

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.

The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.