Engineers Gate Manager LP Acquires Shares of 14,864 FedEx Freight Hldg Co $FDXF

Key Points

• Engineers Gate Manager LP acquired 14,864 shares of FedEx Freight, valued at approximately $2.24 million, during the second quarter. Several other institutional investors also opened new positions in the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $172.67. Recent ratings included “buy” from Goldman Sachs and “overweight” from JPMorgan Chase.
• FedEx Freight shares opened at $129.46, versus a 52-week range of $122.43 to $194.27. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of approximately $4.80.

Engineers Gate Manager LP acquired a new stake in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 14,864 shares of the company's stock, valued at approximately $2,244,000.

A number of other hedge funds have also modified their holdings of FDXF. CYBER HORNET ETFs LLC bought a new position in shares of FedEx Freight during the 2nd quarter worth approximately $44,000. United Community Bank acquired a new stake in FedEx Freight in the 2nd quarter valued at $46,000. Syntax Research Inc. bought a new stake in FedEx Freight in the second quarter valued at $64,000. First Bancorp Inc ME bought a new stake in FedEx Freight in the second quarter valued at $80,000. Finally, Investors Research Corp bought a new stake in FedEx Freight in the second quarter valued at $80,000.

Analyst Ratings Changes

FDXF has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They issued a "hold" rating and a $160.00 target price on the stock. Truist Financial assumed coverage on shares of FedEx Freight in a research report on Tuesday, June 2nd. They set a "hold" rating on the stock. BMO Capital Markets increased their price objective on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a report on Friday, June 26th. The Goldman Sachs Group assumed coverage on shares of FedEx Freight in a research report on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of FedEx Freight in a research note on Tuesday, September 8th. They issued an "overweight" rating and a $160.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, FedEx Freight has a consensus rating of "Moderate Buy" and an average target price of $172.67.

FedEx Freight Stock Performance

Shares of FDXF opened at $129.46 on Tuesday. The company has a fifty day moving average price of $140.51. FedEx Freight Hldg Co has a 52 week low of $122.43 and a 52 week high of $194.27.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. Analysts forecast that FedEx Freight Hldg Co will post 4.8 EPS for the current year.

FedEx Freight 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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