FedEx Freight Target of Unusually Large Options Trading (NYSE:FDXF)

Key Points

• FedEx Freight saw an unusually large surge in put-option activity: Traders purchased 9,640 puts, 1,682% above the typical daily volume of 541 contracts.
• Shares fell $3.69 to $123.25, near their one-year low of $121.82 and below the 50-day moving average of $140.16. The company reported quarterly EPS of $0.00, while analysts expect full-year EPS of $4.80.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $172.67 price target; several hedge funds also established new positions during the second quarter.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 9,640 put options on the company. This represents an increase of 1,682% compared to the typical daily volume of 541 put options.

FedEx Freight Stock Performance

Shares of FDXF traded down $3.69 on Wednesday, hitting $123.25. 577,956 shares of the stock traded hands, compared to its average volume of 1,591,716. FedEx Freight has a 1 year low of $121.82 and a 1 year high of $194.27. The firm has a 50 day moving average price of $140.16.

FedEx Freight (NYSE:FDXF - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.00 EPS for the quarter. Equities analysts expect that FedEx Freight will post 4.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FDXF shares. Raymond James Financial started coverage on FedEx Freight in a report on Wednesday, June 3rd. They issued an "outperform" rating and a $180.00 target price on the stock. Weiss Ratings upgraded shares of FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. initiated coverage on FedEx Freight in a research report on Tuesday, September 8th. They set an "overweight" rating and a $160.00 price objective for the company. Citigroup assumed coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set an "outperform" rating for the company. Finally, Evercore initiated coverage on FedEx Freight in a report on Thursday, June 4th. They set an "outperform" rating and a $168.00 price objective on the stock. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $172.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Birch Capital Management LLC acquired a new stake in FedEx Freight during the 2nd quarter valued at $1,439,000. Maple Rock Capital Partners Inc. acquired a new stake in shares of FedEx Freight during the second quarter worth approximately $68,207,000. Kiltearn Partners LLP acquired a new position in FedEx Freight during the 2nd quarter worth $1,727,000. Twin Lakes Capital Management LLC bought a new stake in FedEx Freight in the second quarter valued at about $1,269,000. Finally, Scholtz & Company LLC acquired a new stake in shares of FedEx Freight during the 2nd quarter valued at approximately $1,967,000.

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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