FedEx Freight (NYSE:FDXF) Reaches New 12-Month Low - Should You Sell?

Key Points

• FedEx Freight shares hit a new 52-week low, falling to $116.03 before recovering slightly to $117.65, well below the 50-day moving average of $137.87.
• Despite the selloff, analysts maintain a “Moderate Buy” consensus with an average price target of $172.67; targets range from $133 to $186.
• Several institutional investors—including Maple Rock Capital Partners, Allianz Asset Management and the National Pension Service—established significant new positions in FedEx Freight during the second quarter.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $116.03 and last traded at $117.65, with a volume of 1658427 shares traded. The stock had previously closed at $120.13.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FDXF shares. Weiss Ratings raised FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, September 8th. BMO Capital Markets raised their price objective on FedEx Freight from $140.00 to $150.00 and gave the stock a "market perform" rating in a research note on Friday, June 26th. Sanford C. Bernstein started coverage on shares of FedEx Freight in a report on Thursday, September 10th. They issued a "market perform" rating and a $133.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of FedEx Freight in a report on Wednesday, July 1st. They set a "buy" rating and a $186.00 target price on the stock. Finally, Truist Financial assumed coverage on shares of FedEx Freight in a research report on Tuesday, June 2nd. They issued a "hold" rating on the stock. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $172.67.

FedEx Freight Price Performance

The company has a 50-day moving average of $137.87.

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 (EPS) for the quarter. Research analysts expect that FedEx Freight Hldg Co will post 4.8 EPS for the current year.

Institutional Trading of FedEx Freight

A number of large investors have recently modified their holdings of FDXF. Maple Rock Capital Partners Inc. bought a new stake in FedEx Freight in the 2nd quarter valued at about $68,207,000. Allianz Asset Management GmbH bought a new position in FedEx Freight in the 2nd quarter worth about $50,888,000. National Pension Service bought a new position in FedEx Freight in the 2nd quarter worth about $26,648,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in FedEx Freight in the 2nd quarter worth about $19,666,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of FedEx Freight in the second quarter valued at approximately $10,838,000.

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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