FedEx Freight (NYSE:FDXF) Sets New 12-Month Low – Here’s What Happened

FedEx Freight Hldg Co (NYSE:FDXF)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $107.02 and last traded at $106.3720, with a volume of 343,976 shares changing hands. The stock had previously closed at $110.09.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDXF. Sanford C. Bernstein initiated coverage on FedEx Freight in a research report on Thursday, September 10th. They set a “market perform” rating and a $133.00 target price on the stock. Stephens assumed coverage on shares of FedEx Freight in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $180.00 price target on the stock. Citizens Jmp began coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $190.00 price target for the company. Citigroup started coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of FedEx Freight from $160.00 to $129.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.85.

FedEx Freight Trading Up 1.7%

The firm has a 50 day moving average price of $125.52.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State Street Corp purchased a new stake in FedEx Freight during the 2nd quarter worth about $723,747,000. Maple Rock Capital Partners Inc. purchased a new stake in FedEx Freight during the 2nd quarter worth about $68,207,000. Allianz Asset Management GmbH acquired a new position in shares of FedEx Freight during the 2nd quarter worth about $50,888,000. National Pension Service acquired a new position in shares of FedEx Freight during the 2nd quarter worth about $26,648,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of FedEx Freight during the 2nd quarter worth about $19,666,000.

About FedEx Freight

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.