Bank of America Issues Pessimistic Forecast for FedEx Freight (NYSE:FDXF) Stock Price

FedEx Freight (NYSE:FDXF) had its target price dropped by analysts at Bank of America from $157.00 to $140.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 24.48% from the company’s previous close.

Several other research firms have also issued reports on FDXF. Citizens Jmp began coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $190.00 price target on the stock. Wolfe Research initiated coverage on FedEx Freight in a research note on Thursday, June 4th. They set an “outperform” rating and a $180.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of FedEx Freight in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price for the company. Stifel Nicolaus initiated coverage on FedEx Freight in a report on Thursday, June 4th. They issued a “hold” rating and a $160.00 price target for the company. Finally, BMO Capital Markets boosted their target price on shares of FedEx Freight from $140.00 to $150.00 and gave the stock a “market perform” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, FedEx Freight has an average rating of “Moderate Buy” and a consensus target price of $168.92.

FedEx Freight Price Performance

Shares of FDXF stock opened at $112.47 on Tuesday. FedEx Freight has a twelve month low of $110.50 and a twelve month high of $194.27. The stock has a fifty day moving average price of $134.57.

Hedge Funds Weigh In On FedEx Freight

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Birch Capital Management LLC acquired a new position in FedEx Freight in the 2nd quarter valued at $1,439,000. Maple Rock Capital Partners Inc. acquired a new stake in shares of FedEx Freight in the 2nd quarter worth $68,207,000. Kiltearn Partners LLP purchased a new stake in shares of FedEx Freight in the second quarter valued at about $1,727,000. State Street Corp purchased a new stake in shares of FedEx Freight in the second quarter valued at about $723,747,000. Finally, Twin Lakes Capital Management LLC acquired a new position in shares of FedEx Freight during the second quarter worth about $1,269,000.

FedEx Freight Company Profile

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.