FedEx Freight Hldg Co (NYSE:FDXF – Get Free Report) shares crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $118.84 and traded as high as $128.00. FedEx Freight shares last traded at $126.41, with a volume of 3,597,044 shares.
Key FedEx Freight News
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
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Weiss Ratings lowered shares of FedEx Freight from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. upped their price objective on FedEx Freight from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets set a $130.00 target price on FedEx Freight in a report on Wednesday, October 7th. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price target on shares of FedEx Freight in a research report on Thursday, October 15th. Finally, Bank of America cut their target price on FedEx Freight from $157.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.
Get Our Latest Stock Report on FDXF
FedEx Freight Price Performance
The firm has a 50 day moving average price of $118.84.
FedEx Freight (NYSE:FDXF – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The business had revenue of $2.46 billion during the quarter. Research analysts expect that FedEx Freight Hldg Co will post 4.59 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of FDXF. Birch Capital Management LLC bought a new stake in shares of FedEx Freight in the second quarter valued at $1,439,000. Maple Rock Capital Partners Inc. purchased a new position in FedEx Freight during the second quarter valued at $68,207,000. Engineers Gate Manager LP bought a new stake in FedEx Freight in the 2nd quarter worth about $2,244,000. State Street Corp bought a new position in shares of FedEx Freight in the 2nd quarter worth approximately $723,747,000. Finally, Kiltearn Partners LLP bought a new position in shares of FedEx Freight during the 2nd quarter valued at approximately $1,727,000.
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.
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