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

Key Points

• FedEx Freight shares fell to a new 52-week low, trading as low as $112.07 and remaining well below their 50-day moving average of $135.33.
• Despite the decline, analysts maintain a generally positive outlook: the stock has a consensus rating of “Moderate Buy” and an average price target of $172.67, though ratings range from Sell to Strong Buy.
• FedEx Freight reported break-even quarterly EPS, while analysts expect approximately $4.80 in EPS for the current fiscal year; several institutional investors also recently initiated positions.

Shares of FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $112.07 and last traded at $110.6360, with a volume of 18188 shares traded. The stock had previously closed at $113.18.

Wall Street Analysts Forecast Growth

FDXF has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of FedEx Freight from $140.00 to $150.00 and gave the company a "market perform" rating in a research report on Friday, June 26th. Zacks Research raised FedEx Freight to a "hold" rating in a research note on Tuesday, June 2nd. Citigroup assumed coverage on FedEx Freight in a report on Wednesday, July 15th. They issued an "outperform" rating on the stock. Sanford C. Bernstein initiated coverage on FedEx Freight in a research report on Thursday, September 10th. They set a "market perform" rating and a $133.00 price objective for the company. Finally, Citizens Jmp started coverage on FedEx Freight in a report on Wednesday, July 15th. They set a "market outperform" rating and a $190.00 price objective for the company. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.67.

FedEx Freight Stock Performance

The company's 50 day simple moving average is $135.33.

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

Institutional Investors Weigh In On FedEx Freight

Institutional investors and hedge funds have recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new stake in FedEx Freight in the 2nd quarter valued at about $44,000. United Community Bank acquired a new position in FedEx Freight during the second quarter worth approximately $46,000. Syntax Research Inc. acquired a new position in FedEx Freight during the second quarter worth approximately $64,000. MCF Advisors LLC bought a new stake in FedEx Freight in the second quarter valued at approximately $65,000. Finally, First Bancorp Inc ME bought a new stake in FedEx Freight in the second quarter valued at approximately $80,000.

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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