FedEx Freight (NYSE:FDXF – Get Free Report) had its price target decreased by equities research analysts at Bank of America from $157.00 to $140.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 24.48% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group initiated coverage on FedEx Freight in a research report on Wednesday, July 1st. They set a “buy” rating and a $186.00 price target on the stock. Sanford C. Bernstein began coverage on shares of FedEx Freight in a research report on Thursday, September 10th. They set a “market perform” rating and a $133.00 price target for the company. 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 target price on the stock. Truist Financial initiated coverage on FedEx Freight in a research note on Tuesday, June 2nd. They issued a “hold” rating for the company. Finally, BMO Capital Markets upped their price target on shares of FedEx Freight from $140.00 to $150.00 and gave the company a “market perform” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.92.
Read Our Latest Research Report on FDXF
FedEx Freight Price Performance
Hedge Funds Weigh In On FedEx Freight
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp bought a new stake in shares of FedEx Freight during the 2nd quarter valued at about $723,747,000. Maple Rock Capital Partners Inc. bought a new position in FedEx Freight in the 2nd quarter worth $68,207,000. Allianz Asset Management GmbH bought a new position in shares of FedEx Freight in the second quarter worth about $50,888,000. National Pension Service purchased a new stake in FedEx Freight during the 2nd quarter valued at approximately $26,648,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in FedEx Freight during the second quarter valued at $19,666,000.
About FedEx Freight
FedEx Freight is a less-than-truckload (LTL) transportation company that provides freight shipping services for businesses across North America. Its network transports palletized and other consolidated shipments that do not require a full truckload, serving manufacturers, wholesalers, retailers, distributors and other commercial customers.
The company offers a range of freight solutions, including standard and time-definite LTL delivery, expedited transportation, volume and consolidated freight services, and specialized options for residential or appointment-based deliveries.
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