FedEx Freight (NYSE:FDXF) Hits New 12-Month Low - Here's Why

Key Points

• FedEx Freight shares fell 1.6% to a new 52-week low of $128.71, well below the 50-day moving average of $148.37.
• Despite the decline, analysts maintain a “Moderate Buy” consensus, with an average price target of $177.90 and targets ranging as high as $200.
• The company reported quarterly earnings per share of $0.00, while analysts expect full-year EPS of approximately $5.48; several institutional investors also initiated new positions.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $128.71 and last traded at $129.2310, with a volume of 1135587 shares traded. The stock had previously closed at $131.27.

Wall Street Analysts Forecast Growth

FDXF has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective on the stock. Wall Street Zen upgraded shares of FedEx Freight to a "hold" rating in a report on Saturday, June 6th. Wolfe Research initiated coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They set an "outperform" rating and a $180.00 price target on the stock. Evercore initiated coverage on FedEx Freight in a report on Thursday, June 4th. They set an "outperform" rating and a $168.00 price target for the company. Finally, Jefferies Financial Group started coverage on FedEx Freight in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.90.

FedEx Freight Stock Down 1.6%

The firm has a fifty day moving average of $148.37.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. As a group, equities analysts forecast that FedEx Freight Hldg Co will post 5.48 EPS for the current year.

Institutional Investors Weigh In On FedEx Freight

Several hedge funds and other institutional investors have recently bought and sold shares of FDXF. CYBER HORNET ETFs LLC acquired a new position in shares of FedEx Freight during the second quarter valued at about $44,000. United Community Bank acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at about $46,000. Syntax Research Inc. acquired a new stake in shares of FedEx Freight in the 2nd quarter valued at about $64,000. First Bancorp Inc ME bought a new stake in FedEx Freight in the 2nd quarter valued at about $80,000. Finally, Investors Research Corp bought a new stake in FedEx Freight in the 2nd quarter valued at about $80,000.

FedEx Freight Company Profile

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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