FedEx Freight (NYSE:FDXF) Reaches New 12-Month Low - What's Next?

Key Points

• FedEx Freight shares hit a new 52-week low, falling to $126.75 intraday from a previous close of $133.74, below the 50-day moving average of $146.02.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $177.90, although targets range from $160 to $185 and Weiss Ratings issued a sell rating.
• Institutional investors actively adjusted their positions, including California State Teachers Retirement System, which acquired a reported stake valued at approximately $3.6 billion.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $126.75 and last traded at $127.9850, with a volume of 356761 shares. The stock had previously closed at $133.74.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDXF shares. Raymond James Financial assumed coverage on FedEx Freight in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $180.00 price objective for the company. Bank of America assumed coverage on FedEx Freight in a research report on Monday, June 1st. They issued a "buy" rating and a $185.00 target price on the stock. Citigroup initiated coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued an "outperform" rating on the stock. Stifel Nicolaus assumed coverage on shares of FedEx Freight in a report on Thursday, June 4th. They set a "hold" rating and a $160.00 price target for the company. Finally, Weiss Ratings started coverage on shares of FedEx Freight in a research report on Tuesday, August 25th. They set a "sell (d)" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $177.90.

FedEx Freight Price Performance

The company's fifty day moving average is $146.02.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FDXF. VELA Investment Management LLC bought a new stake in shares of FedEx Freight during the second quarter valued at about $206,000. Corient Private Wealth LP bought a new position in FedEx Freight in the 2nd quarter valued at about $6,394,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in FedEx Freight in the 2nd quarter valued at about $10,838,000. CYBER HORNET ETFs LLC acquired a new position in FedEx Freight during the 2nd quarter valued at about $44,000. Finally, California State Teachers Retirement System acquired a new position in FedEx Freight during the 2nd quarter valued at about $3,615,235,000.

About FedEx Freight

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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