FedEx Freight Hldg Co (NYSE:FDXF – Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $103.51 and last traded at $104.3880, with a volume of 237,435 shares trading hands. The stock had previously closed at $108.50.
Key Headlines Impacting FedEx Freight
Here are the key news stories impacting FedEx Freight this week:
- Positive Sentiment: Third-quarter adjusted EPS was $1.49, exceeding the $1.38 analyst consensus, while revenue reached $2.46 billion. The company also reported 12% year-over-year revenue growth, providing evidence of resilience in a challenging freight market. FedEx Freight quarterly earnings report FedEx posts 12% annual revenue growth in Q3
- Positive Sentiment: Management said freight volumes are stabilizing and expects pricing, premium logistics services and fuel surcharges to support results. The company also anticipates improved margins in the fourth quarter as operating conditions normalize. FedEx Freight forecasts quarterly earnings above estimates FedEx Freight sees volumes stabilize
- Neutral Sentiment: FedEx Freight projects fourth-quarter revenue of $2.30 billion to $2.37 billion. That outlook suggests continued demand improvement, but investors will watch whether growth is strong enough to offset labor, fuel and other operating costs. FedEx Freight fourth-quarter revenue outlook
- Negative Sentiment: Fourth-quarter adjusted EPS is expected at only $0.65 to $0.75, substantially below the latest quarter’s $1.49. The sequential decline reinforces concerns that peak-season volumes remain tepid and that margins have not fully recovered. FedEx Freight fourth-quarter EPS outlook
Analyst Ratings Changes
A number of research firms recently commented on FDXF. Sanford C. Bernstein initiated coverage on shares of FedEx Freight in a report on Thursday, September 10th. They set a “market perform” rating and a $133.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price objective on shares of FedEx Freight in a report on Thursday, October 15th. Weiss Ratings downgraded FedEx Freight from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Citigroup initiated coverage on FedEx Freight in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Finally, Truist Financial dropped their price target on FedEx Freight from $155.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx Freight has a consensus rating of “Moderate Buy” and a consensus target price of $158.85.
Read Our Latest Analysis on FDXF
FedEx Freight Trading Up 0.9%
The firm’s 50-day moving average is $119.05.
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 the consensus estimate of $1.38 by $0.11. The company had revenue of $2.46 billion for the quarter. Research analysts expect that FedEx Freight Hldg Co will post 4.53 EPS for the current fiscal year.
Hedge Funds Weigh In On FedEx Freight
Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new position in FedEx Freight in the 3rd quarter valued at about $26,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FedEx Freight during the 2nd quarter worth about $44,000. United Community Bank purchased a new stake in shares of FedEx Freight during the second quarter worth about $46,000. Syntax Research Inc. purchased a new stake in shares of FedEx Freight during the second quarter worth about $64,000. Finally, MCF Advisors LLC purchased a new stake in shares of FedEx Freight during the second quarter worth about $65,000.
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.
Featured Articles
- Five stocks we like better than FedEx Freight
- Robinhood Stock Is Down Nearly 37%—So Why Is Wall Street Still So Bullish?
- 5 Stocks to Buy in November: Bargains Worth Giving Thanks For
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
Receive News & Ratings for FedEx Freight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Freight and related companies with MarketBeat.com's FREE daily email newsletter.
