FedEx Freight (NYSE:FDXF) Hits New 12-Month Low - What's Next?

Key Points

• FedEx Freight shares hit a new 52-week low, falling to $135.05 during Thursday trading versus a prior close of $138.17. The stock’s 50-day moving average is $151.36.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $177.90; recent targets range from $150 to $200.
• The company reported $0.00 in quarterly EPS, while analysts expect full-year EPS of $5.47. Several institutional investors also initiated new positions during the second quarter.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $135.05 and last traded at $133.9320, with a volume of 43892 shares trading hands. The stock had previously closed at $138.17.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FDXF shares. Truist Financial began coverage on shares of FedEx Freight in a research note on Tuesday, June 2nd. They issued a "hold" rating for the company. BMO Capital Markets lifted their target price on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a research report on Friday, June 26th. Jefferies Financial Group initiated coverage on FedEx Freight in a report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price target on the stock. Citizens Jmp began coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $190.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on FedEx Freight in a report on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.90.

FedEx Freight Price Performance

The stock's fifty day moving average price is $151.36.

FedEx Freight (NYSE:FDXF - Get Free Report) last issued its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. Equities analysts anticipate that FedEx Freight Hldg Co will post 5.47 EPS for the current fiscal year.

Institutional Investors Weigh In On FedEx Freight

Several hedge funds and other institutional investors have recently made changes to their positions in FDXF. First Bancorp Inc ME purchased a new position in shares of FedEx Freight during the 2nd quarter worth about $80,000. Sumitomo Life Insurance Co. purchased a new stake in FedEx Freight in the 2nd quarter worth about $194,000. Archer Investment Corp purchased a new stake in FedEx Freight in the 2nd quarter worth about $276,000. Greenleaf Trust bought a new stake in FedEx Freight in the second quarter worth about $340,000. Finally, Navellier & Associates Inc. bought a new stake in FedEx Freight in the second quarter worth about $364,000.

About FedEx Freight

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.

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