FedEx Freight (NYSE:FDXF) Sets New 1-Year Low - Here's What Happened

Key Points

• FedEx Freight shares hit a new 52-week low of $107.02 during Wednesday trading, below the prior close of $110.09 and well under the 50-day moving average of $126.93.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $160, though JPMorgan recently cut its target to $149 and Weiss Ratings maintained a sell rating.
• Several institutional investors recently initiated positions in FedEx Freight, but the disclosed purchases were relatively small, ranging from approximately $26,000 to $54,000.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $107.02 and last traded at $106.3720, with a volume of 343,976 shares traded. The stock had previously closed at $110.09.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on FedEx Freight in a report on Wednesday, July 1st. They set a "buy" rating and a $186.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on FedEx Freight from $160.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, October 5th. BMO Capital Markets set a $130.00 target price on FedEx Freight in a research report on Wednesday, October 7th. Citizens Jmp began coverage on FedEx Freight in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $190.00 target price on the stock. Finally, Weiss Ratings lowered FedEx Freight from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, September 22nd. One research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $160.00.

FedEx Freight Stock Performance

The stock's 50 day moving average price is $126.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in shares of FedEx Freight during the third quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in shares of FedEx Freight during the second quarter worth approximately $44,000. United Community Bank bought a new stake in shares of FedEx Freight in the second quarter valued at about $46,000. Tompkins Financial Corp bought a new stake in shares of FedEx Freight during the 3rd quarter valued at $49,000. Finally, Coastline Trust Co acquired a new stake in shares of FedEx Freight during the 3rd quarter worth approximately $54,000.

FedEx Freight Company Profile

FedEx Freight is a transportation and logistics company focused on less-than-truckload (LTL) shipping. It moves palletized and oversized freight that does not require a full truck, serving commercial, industrial and residential customers through scheduled pickup and delivery services.

The company offers time-sensitive and cost-conscious freight options, including FedEx Freight Priority and FedEx Freight Economy. Its services also include shipment tracking and visibility tools, freight pickup and delivery, cross-border transportation, and specialized solutions for shipments requiring additional handling or delivery coordination.

FedEx Freight primarily serves the United States, with transportation connections to Canada, Mexico and other international markets through the broader FedEx network.

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