JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FedEx Freight (NYSE:FDXF) Stock

FedEx Freight (NYSE:FDXF) had its price target boosted by research analysts at JPMorgan Chase & Co. from $149.00 to $151.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.45% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Bank of America dropped their price objective on shares of FedEx Freight from $157.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Raymond James Financial restated an “outperform” rating and set a $165.00 target price on shares of FedEx Freight in a research report on Thursday, October 15th. Citigroup began coverage on shares of FedEx Freight in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Truist Financial decreased their price target on shares of FedEx Freight from $155.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, October 7th. Finally, Citizens Jmp began coverage on shares of FedEx Freight in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.00.

FedEx Freight Price Performance

NYSE FDXF traded up $16.72 during trading on Friday, hitting $126.41. 3,597,044 shares of the company traded hands, compared to its average volume of 1,647,915. The business’s fifty day simple moving average is $119.05. FedEx Freight has a 12 month low of $103.47 and a 12 month high of $194.27.

FedEx Freight (NYSE:FDXF) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.11. The company had revenue of $2.46 billion for the quarter. On average, equities analysts expect that FedEx Freight will post 4.53 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Integrity Alliance LLC. increased its holdings in shares of FedEx Freight by 17.6% during the third quarter. Integrity Alliance LLC. now owns 3,453 shares of the company’s stock worth $378,000 after purchasing an additional 518 shares during the period. Oregon Public Employees Retirement Fund increased its stake in FedEx Freight by 10.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,676 shares of the company’s stock worth $1,605,000 after purchasing an additional 1,340 shares during the period. First Nebraska Trust Co purchased a new position in FedEx Freight during the 3rd quarter valued at about $1,570,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in FedEx Freight in the third quarter worth about $3,379,000. Finally, ProShare Advisors LLC increased its holdings in FedEx Freight by 12.0% in the 3rd quarter. ProShare Advisors LLC now owns 19,220 shares of the company’s stock valued at $2,102,000 after acquiring an additional 2,056 shares during the last quarter.

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

FedEx Freight Company Profile

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.