FedEx Freight (NYSE:FDXF) Reaches New 1-Year Low - Here's Why

Key Points

• FedEx Freight shares hit a new 52-week low, trading as low as $122.90 before last changing hands near $123.51, below the previous close of $124.79.
• Despite the selloff, analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $172.67; recent targets range from $133 to $180.
• The company reported quarterly EPS of $0.00, while analysts expect full-year earnings of $5.48 per share. Several institutional investors, including Maple Rock Capital Partners, recently initiated positions in the stock.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $122.90 and last traded at $123.5130, with a volume of 49499 shares traded. The stock had previously closed at $124.79.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FDXF shares. 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 for the company. Wolfe Research started coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They set an "outperform" rating and a $180.00 target price on the stock. Raymond James Financial initiated coverage on FedEx Freight in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $180.00 target price on the stock. Stephens started coverage on FedEx Freight in a report on Wednesday, July 8th. They issued an "overweight" rating and a $180.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on FedEx Freight in a report on Thursday. They issued a "market perform" rating and a $133.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $172.67.

FedEx Freight Price Performance

The company's fifty day moving average is $141.98.

FedEx Freight (NYSE:FDXF - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.00 EPS for the quarter. Research analysts anticipate that FedEx Freight Hldg Co will post 5.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FedEx Freight

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Birch Capital Management LLC purchased a new stake in shares of FedEx Freight in the second quarter valued at about $1,439,000. Maple Rock Capital Partners Inc. purchased a new stake in FedEx Freight in the second quarter valued at approximately $68,207,000. Kiltearn Partners LLP acquired a new position in FedEx Freight during the 2nd quarter worth about $1,727,000. Twin Lakes Capital Management LLC purchased a new position in shares of FedEx Freight in the second quarter valued at approximately $1,269,000. Finally, F&V Capital Management LLC acquired a new position in shares of FedEx Freight in the second quarter worth $4,785,000.

About FedEx Freight

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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