FedEx Freight (NYSE:FDXF) Reaches New 12-Month Low – Here’s Why

Shares of FedEx Freight Hldg Co (NYSE:FDXF) hit a new 52-week low during trading on Thursday . The company traded as low as $135.05 and last traded at $133.9320, with a volume of 43892 shares trading hands. The stock had previously closed at $138.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 target price on the stock. Evercore initiated coverage on FedEx Freight in a research report on Thursday, June 4th. They set an “outperform” rating and a $168.00 price target on the stock. Truist Financial started coverage on FedEx Freight in a research note on Tuesday, June 2nd. They issued a “hold” rating on the stock. Citigroup began coverage on FedEx Freight in a research note on Wednesday, July 15th. They issued an “outperform” rating on the stock. Finally, Jefferies Financial Group initiated coverage on FedEx Freight in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.90.

FedEx Freight Stock Performance

The firm’s fifty day simple moving average is $149.77.

FedEx Freight (NYSE:FDXF) last posted its earnings results on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. As a group, equities research analysts expect that FedEx Freight Hldg Co will post 5.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FDXF. Maple Rock Capital Partners Inc. bought a new stake in shares of FedEx Freight during the second quarter worth approximately $68,207,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of FedEx Freight during the second quarter worth approximately $19,666,000. Ancora Advisors LLC bought a new position in shares of FedEx Freight during the second quarter worth approximately $8,279,000. Pacific Heights Asset Management LLC acquired a new stake in FedEx Freight during the 2nd quarter worth approximately $6,418,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in FedEx Freight during the 2nd quarter worth approximately $5,884,000.

FedEx Freight Company Profile

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.