FedEx Freight (NYSE:FDXF) Sets New 52-Week Low - Here's Why

Key Points

• FedEx Freight shares fell to a new 52-week low of $121.82, down from the prior close of $126.94 and below the 50-day moving average of $140.16.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $172.67, although recent ratings range from “Sell” to “Buy.”
• FedEx Freight reported quarterly earnings per share of $0.00, while analysts expect full-year EPS of approximately $4.80; several institutional investors also initiated new positions during the second quarter.

FedEx Freight Hldg Co (NYSE:FDXF - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $121.82 and last traded at $122.5370, with a volume of 448224 shares. The stock had previously closed at $126.94.

Analysts Set New Price Targets

A number of brokerages recently commented on FDXF. Wall Street Zen upgraded FedEx Freight to a "hold" rating in a report on Saturday, June 6th. Raymond James Financial began coverage on shares of FedEx Freight in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $180.00 price target on the stock. Weiss Ratings raised shares of FedEx Freight from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, September 8th. Sanford C. Bernstein initiated coverage on shares of FedEx Freight in a research note on Thursday, September 10th. They issued a "market perform" rating and a $133.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of FedEx Freight in a report on Wednesday, July 1st. They issued a "buy" rating and a $186.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given 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 stock's 50-day moving average price is $140.16.

FedEx Freight (NYSE:FDXF - Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter. On average, research analysts predict that FedEx Freight Hldg Co will post 4.8 earnings per share for the current year.

Institutional Investors Weigh In On FedEx Freight

Several institutional investors have recently modified their holdings of FDXF. Anchor Investment Management LLC acquired a new position in FedEx Freight in the second quarter valued at approximately $2,022,000. Sequoia Financial Advisors LLC acquired a new stake in FedEx Freight during the second quarter worth approximately $1,041,000. Tidal Investments LLC acquired a new stake in FedEx Freight during the second quarter worth approximately $2,658,000. MCF Advisors LLC acquired a new stake in FedEx Freight during the second quarter worth approximately $65,000. Finally, Scholtz & Company LLC purchased a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $1,967,000.

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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