FedEx Freight (NYSE:FDXF) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of FedEx Freight with an “overweight” rating and a $160 price target, implying 23.91% upside from the prior close.
• Analyst sentiment is broadly positive: FedEx Freight has a consensus rating of “Moderate Buy” and an average price target of $176.27, with targets ranging from $150 to $186.
• The stock opened at $129.13 and remains near its 52-week low of $123.24, while the company reported quarterly EPS of $0.00; analysts expect full-year EPS of $5.48.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of FedEx Freight (NYSE:FDXF - Get Free Report) in a report released on Tuesday, Benzinga reports. The firm set an "overweight" rating and a $160.00 price target on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 23.91% from the company's previous close.

A number of other research analysts have also weighed in on FDXF. Evercore initiated coverage on FedEx Freight in a research report on Thursday, June 4th. They set an "outperform" rating and a $168.00 price objective for the company. BMO Capital Markets lifted their target price on FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a report on Friday, June 26th. Bank of America assumed coverage on FedEx Freight in a report on Monday, June 1st. They issued a "buy" rating and a $185.00 price objective for the company. Stifel Nicolaus began coverage on shares of FedEx Freight in a report on Thursday, June 4th. They set a "hold" rating and a $160.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on FedEx Freight in a report on Wednesday, July 1st. They set a "buy" rating and a $186.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, FedEx Freight has an average rating of "Moderate Buy" and a consensus price target of $176.27.

FedEx Freight Stock Down 0.2%

NYSE:FDXF opened at $129.13 on Tuesday. The company's 50 day moving average is $143.02. FedEx Freight has a fifty-two week low of $123.24 and a fifty-two week high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last posted its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. Sell-side analysts anticipate that FedEx Freight will post 5.48 earnings per share for the current year.

Institutional Investors Weigh In On FedEx Freight

A number of hedge funds have recently bought and sold shares of the business. CYBER HORNET ETFs LLC purchased a new stake in shares of FedEx Freight during the 2nd quarter valued at about $44,000. United Community Bank bought a new stake in FedEx Freight during the second quarter worth approximately $46,000. Syntax Research Inc. bought a new stake in FedEx Freight during the second quarter worth approximately $64,000. First Bancorp Inc ME purchased a new stake in FedEx Freight during the second quarter valued at approximately $80,000. Finally, Investors Research Corp bought a new stake in shares of FedEx Freight in the 2nd quarter valued at approximately $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.