FedEx Freight (NYSE:FDXF) Trading Up 6.9% – Still a Buy?

FedEx Freight Hldg Co (NYSE:FDXF)’s stock price shot up 6.9% during mid-day trading on Thursday . The stock traded as high as $150.36 and last traded at $151.6310. 700,734 shares were traded during mid-day trading, a decline of 67% from the average session volume of 2,148,922 shares. The stock had previously closed at $141.80.

Analysts Set New Price Targets

A number of research firms have weighed in on FDXF. Stifel Nicolaus assumed coverage on FedEx Freight in a report on Thursday, June 4th. They set a “hold” rating and a $160.00 price objective on the stock. The Goldman Sachs Group assumed coverage on FedEx Freight in a research note on Wednesday, July 1st. They issued a “buy” rating and a $186.00 price target on the stock. Citizens Jmp started coverage on FedEx Freight in a research report on Wednesday. They issued a “market outperform” rating and a $190.00 price target on the stock. Jefferies Financial Group assumed coverage on FedEx Freight in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of FedEx Freight in a research note on Thursday, June 4th. They issued an “outperform” rating and a $180.00 target price 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.90.

FedEx Freight Stock Performance

FedEx Freight (NYSE:FDXF) last announced its earnings results on Thursday, June 25th. The company reported $0.00 EPS 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.