FedEx Freight (NYSE:FDXF) Reaches New 52-Week Low – Here’s Why

FedEx Freight Hldg Co (NYSE:FDXF) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $140.50 and last traded at $141.1350, with a volume of 338132 shares traded. The stock had previously closed at $144.75.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FDXF shares. Raymond James Financial assumed coverage on shares of FedEx Freight in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $180.00 price target on the stock. Bank of America began coverage on FedEx Freight in a report on Monday, June 1st. They set a “buy” rating and a $185.00 target price on the stock. The Goldman Sachs Group began coverage on FedEx Freight in a research note on Wednesday, July 1st. They set a “buy” rating and a $186.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a “market perform” rating in a report on Friday, June 26th. Finally, Evercore assumed coverage on shares of FedEx Freight in a report on Thursday, June 4th. They issued an “outperform” rating and a $168.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, FedEx Freight currently has an average rating of “Moderate Buy” and an average target price of $177.90.

FedEx Freight Stock Down 1.3%

FedEx Freight (NYSE:FDXF) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share for the quarter.

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.