JPMorgan Chase & Co. Issues Positive Forecast for FedEx Freight (NYSE:FDXF) Stock Price

Key Points

• JPMorgan raised its FedEx Freight price target to $151 from $149 and maintained an “overweight” rating, implying approximately 19.45% upside from the stock’s current price.
• FedEx Freight reported quarterly EPS of $1.49, beating the $1.38 consensus estimate, on $2.46 billion in revenue. Shares rose to $126.41 during Friday trading.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $159, although several firms have recently lowered their targets and freight demand remains mixed.

FedEx Freight (NYSE:FDXF - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $149.00 to $151.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 19.45% from the company's current price.

Other analysts have also issued reports about the company. Truist Financial cut their price target on FedEx Freight from $155.00 to $115.00 and set a "hold" rating on the stock in a report on Wednesday, October 7th. Raymond James Financial reaffirmed an "outperform" rating and set a $165.00 price objective on shares of FedEx Freight in a research report on Thursday, October 15th. BMO Capital Markets set a $130.00 price objective on shares of FedEx Freight in a research report on Wednesday, October 7th. Bank of America cut their target price on FedEx Freight from $157.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Finally, Sanford C. Bernstein started coverage on FedEx Freight in a report on Thursday, September 10th. They set a "market perform" rating and a $133.00 price target 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 company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $159.00.

FedEx Freight Stock Performance

Shares of NYSE FDXF traded up $16.72 during midday trading on Friday, hitting $126.41. The company's stock had a trading volume of 3,597,044 shares, compared to its average volume of 1,647,915. The company's fifty day moving average price is $119.05. FedEx Freight has a 1 year low of $103.47 and a 1 year high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.11. The company had revenue of $2.46 billion for the quarter. Equities analysts predict that FedEx Freight will post 4.53 EPS for the current fiscal year.

Institutional Investors Weigh In On FedEx Freight

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrity Alliance LLC. grew its holdings in shares of FedEx Freight by 17.6% in the 3rd quarter. Integrity Alliance LLC. now owns 3,453 shares of the company's stock valued at $378,000 after acquiring an additional 518 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in FedEx Freight by 10.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,676 shares of the company's stock worth $1,605,000 after acquiring an additional 1,340 shares in the last quarter. First Nebraska Trust Co purchased a new position in shares of FedEx Freight during the third quarter valued at about $1,570,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of FedEx Freight during the third quarter valued at approximately $3,379,000. Finally, ProShare Advisors LLC raised its holdings in FedEx Freight by 12.0% during the third quarter. ProShare Advisors LLC now owns 19,220 shares of the company's stock valued at $2,102,000 after acquiring an additional 2,056 shares during the period.

Trending Headlines about FedEx Freight

Here are the key news stories impacting FedEx Freight this week:

• Positive Sentiment: Earnings beat expectations: FedEx Freight reported $1.49 in earnings per share versus the $1.38 analyst consensus, with revenue of $2.46 billion. Higher freight yields and fuel surcharges supported revenue, while management raised its transition-period outlook. FDXF Four-Month Transition Period Earnings Beat Estimates on Higher Yields
• Positive Sentiment: Better near-term outlook: The company forecast fourth-quarter adjusted EPS of $0.65-$0.75 and revenue of $2.30-$2.37 billion, with improving volumes, pricing, and expected margin improvement supporting the forecast. FedEx Freight forecasts quarterly earnings above estimates on improving volumes, pricing
• Positive Sentiment: Pricing power remains a key strength: Management highlighted some of its strongest renewal pricing in years, helping offset softer demand and reinforcing expectations for earnings growth during the transition period. FedEx Freight Soars on Raised Outlook
• Positive Sentiment: Analyst support: Analysts cited the quarterly beat and growth targets as reasons for the favorable reaction, helping reinforce investor confidence in the newly spun-off freight carrier. FedEx Freight shares surge as analysts back growth targets
• Neutral Sentiment: Strategic expansion: After initial consolidation following the spinoff, FedEx Freight is evaluating additional opportunities to expand its less-than-truckload network and customer base. FedEx Freight goes hunting after initial consolidation
• Negative Sentiment: Demand remains mixed: Third-quarter shipments dipped slightly, and management expects peak-season volume to be tepid, meaning pricing—not strong volume growth—is currently doing much of the earnings-supporting work. FedEx Freight Q3 shipments dip slightly following spinoff
• Negative Sentiment: Price target reduced: Jefferies lowered its FedEx Freight price target to $180 from $200, signaling more cautious valuation expectations despite the earnings beat. Jefferies Adjusts Price Target on FedEx Freight

FedEx Freight Company Profile

FedEx Freight is a less-than-truckload (LTL) freight transportation company that provides pickup, consolidation, transportation and delivery services for shipments that do not require a full truck. Its customers include businesses across manufacturing, retail, wholesale, healthcare, technology and other industries.

The company offers a range of LTL solutions, including time-definite and day-definite services, standard and economy freight transportation, expedited shipping, volume and multiweight services, and specialized delivery options.

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