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

FedEx Freight Hldg Co (NYSE:FDXF)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $140.50 and last traded at $141.1350, with a volume of 338132 shares changing hands. The stock had previously closed at $144.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDXF. The Goldman Sachs Group assumed coverage on shares of FedEx Freight in a research note on Wednesday, July 1st. They issued a “buy” rating and a $186.00 price target for the company. Wall Street Zen raised FedEx Freight to a “hold” rating in a research note on Saturday, June 6th. BMO Capital Markets upped their price objective on FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a report on Friday, June 26th. Wolfe Research started coverage on FedEx Freight in a report on Thursday, June 4th. They set an “outperform” rating and a $180.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of FedEx Freight in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.90.

FedEx Freight Price Performance

FedEx Freight (NYSE:FDXF) last released its quarterly earnings results 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.