FedEx Freight (NYSE:FDXF) Trading Down 7.1% – What’s Next?

FedEx Freight Hldg Co (NYSE:FDXF) traded down 7.1% during trading on Friday . The stock traded as low as $144.27 and last traded at $147.3360. Approximately 1,293,445 shares changed hands during trading, a decline of 45% from the average daily volume of 2,361,940 shares. The stock had previously closed at $158.53.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FDXF shares. Bank of America initiated coverage on shares of FedEx Freight in a report on Monday, June 1st. They issued a “buy” rating and a $185.00 price objective for the company. Zacks Research raised shares of FedEx Freight to a “hold” rating in a research note on Tuesday, June 2nd. BMO Capital Markets lifted their target price on FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a research report on Friday. Raymond James Financial assumed coverage on shares of FedEx Freight in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $180.00 price target on the stock. Finally, Evercore assumed coverage on shares of FedEx Freight in a research report on Thursday, June 4th. They set an “outperform” rating and a $168.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.71.

FedEx Freight Stock Down 4.5%

FedEx Freight (NYSE:FDXF) last posted its earnings results on Thursday, June 25th. The company reported $999.00 earnings per share (EPS) for the quarter.

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.