FedEx Freight (NYSE:FDXF) Raised to Hold at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein upgraded FedEx Freight to “hold,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $172.67.
• FDXF opened at $128.05, up 3.3%, but remains below its 50-day moving average of $140.99 and well below its one-year high of $194.27.
• Several major institutional investors, including California State Teachers Retirement System and Maple Rock Capital Partners, established new positions in FedEx Freight during the second quarter.

FedEx Freight (NYSE:FDXF - Get Free Report) was upgraded by analysts at Sanford C. Bernstein to a "hold" rating in a note issued to investors on Thursday, Zacks reports.

Several other equities analysts also recently weighed in on the stock. Stephens initiated coverage on shares of FedEx Freight in a report on Wednesday, July 8th. They set an "overweight" rating and a $180.00 target price for the company. Weiss Ratings raised FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday. Bank of America began 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. Stifel Nicolaus assumed coverage on FedEx Freight in a report on Thursday, June 4th. They issued a "hold" rating and a $160.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on FedEx Freight in a research note on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $172.67.

FedEx Freight Trading Up 3.3%

FDXF opened at $128.05 on Thursday. FedEx Freight has a one year low of $122.43 and a one year high of $194.27. The business's fifty day moving average price is $140.99.

FedEx Freight (NYSE:FDXF - Get Free Report) last announced its quarterly 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 will post 4.8 earnings per share for the current year.

Hedge Funds Weigh In On FedEx Freight

A number of institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new stake in FedEx Freight in the second quarter valued at $3,615,235,000. Maple Rock Capital Partners Inc. acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at about $68,207,000. Allianz Asset Management GmbH bought a new position in shares of FedEx Freight during the second quarter worth about $50,888,000. National Pension Service bought a new position in shares of FedEx Freight during the second quarter worth about $26,648,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in FedEx Freight in the second quarter worth 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.

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