FedEx Freight Hldg Co $FDXF Stock Sold by D.A. Davidson & CO.

Key Points

• D.A. Davidson cut its FedEx Freight stake by 54.8% in the third quarter, selling 13,521 shares and retaining 11,143 shares valued at about $1.22 million.
• FedEx Freight reported quarterly earnings of $1.49 per share, beating the $1.38 analyst consensus, on revenue of $2.46 billion.
• Analysts maintain a Moderate Buy consensus, with an average price target of $159; shares recently opened at $129.38.

D.A. Davidson & CO. decreased its stake in FedEx Freight Hldg Co (NYSE:FDXF - Free Report) by 54.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,143 shares of the company's stock after selling 13,521 shares during the quarter. D.A. Davidson & CO.'s holdings in FedEx Freight were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new position in FedEx Freight during the third quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in shares of FedEx Freight during the second quarter worth $44,000. United Community Bank acquired a new position in shares of FedEx Freight in the 2nd quarter valued at $46,000. Syntax Research Inc. acquired a new position in shares of FedEx Freight in the 2nd quarter valued at $64,000. Finally, MCF Advisors LLC bought a new stake in shares of FedEx Freight in the 2nd quarter valued at $65,000.

FedEx Freight Trading Down 0.7%

Shares of FedEx Freight stock opened at $129.38 on Thursday. FedEx Freight Hldg Co has a 12-month low of $103.47 and a 12-month high of $194.27. The business's 50 day moving average is $118.70.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. The firm had revenue of $2.46 billion during the quarter. As a group, equities analysts expect that FedEx Freight Hldg Co will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on FDXF shares. Citizens Jmp started coverage on FedEx Freight in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $190.00 price objective on the stock. Bank of America reduced their target price on FedEx Freight from $157.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, September 29th. Stephens assumed coverage on FedEx Freight in a research note on Wednesday, July 8th. They issued an "overweight" rating and a $180.00 target price for the company. Stifel Nicolaus lowered their price target on FedEx Freight from $160.00 to $129.00 and set a "hold" rating for the company in a report on Thursday, October 8th. Finally, Truist Financial cut their price target on shares of FedEx Freight from $155.00 to $115.00 and set a "hold" rating on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.00.

FedEx Freight 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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