FedEx Freight (NYSE:FDXF) Price Target Raised to $151.00

FedEx Freight (NYSE:FDXF) had its price objective hoisted by JPMorgan Chase & Co. from $149.00 to $151.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price objective on shares of FedEx Freight in a research note on Thursday, October 15th. Citigroup initiated coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Citizens Jmp initiated coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 price target on the stock. Sanford C. Bernstein assumed coverage on FedEx Freight in a research note on Thursday, September 10th. They set a “market perform” rating and a $133.00 target price for the company. Finally, BMO Capital Markets set a $130.00 price objective on shares of FedEx Freight in a report on Wednesday, October 7th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.00.

FedEx Freight Stock Up 0.3%

FedEx Freight stock opened at $126.41 on Friday. FedEx Freight has a 12 month low of $103.47 and a 12 month high of $194.27. The firm has a 50 day moving average price of $118.84.

FedEx Freight (NYSE:FDXF) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The company had revenue of $2.46 billion for the quarter. As a group, analysts expect that FedEx Freight will post 4.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FedEx Freight

Several institutional investors have recently modified their holdings of the business. Wedmont Private Capital raised its stake in FedEx Freight by 8.4% in the third quarter. Wedmont Private Capital now owns 2,020 shares of the company’s stock valued at $234,000 after buying an additional 156 shares during the period. Choreo LLC boosted its stake in FedEx Freight by 2.6% in the third quarter. Choreo LLC now owns 7,741 shares of the company’s stock worth $847,000 after buying an additional 194 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of FedEx Freight by 5.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,254 shares of the company’s stock worth $468,000 after acquiring an additional 234 shares during the period. CoreCap Advisors LLC purchased a new position in FedEx Freight in the 3rd quarter worth about $26,000. Finally, Brookstone Capital Management increased its stake in FedEx Freight by 7.7% in the 3rd quarter. Brookstone Capital Management now owns 3,496 shares of the company’s stock worth $382,000 after buying an additional 249 shares in the last quarter.

FedEx Freight News Summary

Here are the key news stories impacting FedEx Freight this week:

• Positive Sentiment: Earnings beat expectations: FedEx Freight reported $1.49 in earnings per share versus the $1.38 analyst consensus, with revenue of $2.46 billion. Higher freight yields and fuel surcharges supported revenue, while management raised its transition-period outlook. FDXF Four-Month Transition Period Earnings Beat Estimates on Higher Yields
• Positive Sentiment: Better near-term outlook: The company forecast fourth-quarter adjusted EPS of $0.65-$0.75 and revenue of $2.30-$2.37 billion, with improving volumes, pricing, and expected margin improvement supporting the forecast. FedEx Freight forecasts quarterly earnings above estimates on improving volumes, pricing
• Positive Sentiment: Pricing power remains a key strength: Management highlighted some of its strongest renewal pricing in years, helping offset softer demand and reinforcing expectations for earnings growth during the transition period. FedEx Freight Soars on Raised Outlook
• Positive Sentiment: Analyst support: Analysts cited the quarterly beat and growth targets as reasons for the favorable reaction, helping reinforce investor confidence in the newly spun-off freight carrier. FedEx Freight shares surge as analysts back growth targets
• Neutral Sentiment: Strategic expansion: After initial consolidation following the spinoff, FedEx Freight is evaluating additional opportunities to expand its less-than-truckload network and customer base. FedEx Freight goes hunting after initial consolidation
• Negative Sentiment: Demand remains mixed: Third-quarter shipments dipped slightly, and management expects peak-season volume to be tepid, meaning pricing—not strong volume growth—is currently doing much of the earnings-supporting work. FedEx Freight Q3 shipments dip slightly following spinoff
• Negative Sentiment: Price target reduced: Jefferies lowered its FedEx Freight price target to $180 from $200, signaling more cautious valuation expectations despite the earnings beat. Jefferies Adjusts Price Target on FedEx Freight

About FedEx Freight

FedEx Freight is a less-than-truckload (LTL) freight transportation company that provides pickup, consolidation, transportation and delivery services for shipments that do not require a full truck. Its customers include businesses across manufacturing, retail, wholesale, healthcare, technology and other industries.

The company offers a range of LTL solutions, including time-definite and day-definite services, standard and economy freight transportation, expedited shipping, volume and multiweight services, and specialized delivery options.