FedEx Freight (NYSE:FDXF) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. began coverage on shares of FedEx Freight (NYSE:FDXF) in a research note issued on Tuesday, Benzinga reports. The brokerage set an “overweight” rating and a $160.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.91% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Bank of America started coverage on shares of FedEx Freight in a research note on Monday, June 1st. They set a “buy” rating and a $185.00 target price on the stock. Evercore initiated coverage on shares of FedEx Freight in a report on Thursday, June 4th. They issued an “outperform” rating and a $168.00 price objective for the company. Citigroup started coverage on shares of FedEx Freight in a research note on Wednesday, July 15th. They issued an “outperform” rating on the stock. Weiss Ratings initiated coverage on FedEx Freight in a report on Tuesday, August 25th. They set a “sell (d)” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on FedEx Freight in a research report on Wednesday, July 1st. They issued a “buy” rating and a $186.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx Freight has an average rating of “Moderate Buy” and an average price target of $176.27.

FedEx Freight Stock Performance

Shares of NYSE:FDXF opened at $129.13 on Tuesday. The firm’s 50-day moving average price is $143.02. FedEx Freight has a 12 month low of $123.24 and a 12 month high of $194.27.

FedEx Freight (NYSE:FDXF) last posted its quarterly earnings data on Thursday, June 25th. The company reported $0.00 earnings per share (EPS) for the quarter. On average, equities analysts forecast that FedEx Freight will post 5.48 EPS for the current year.

Institutional Investors Weigh In On FedEx Freight

A number of hedge funds have recently modified their holdings of FDXF. Birch Capital Management LLC purchased a new position in FedEx Freight during the second quarter worth about $1,439,000. Maple Rock Capital Partners Inc. purchased a new stake in shares of FedEx Freight in the 2nd quarter valued at approximately $68,207,000. Kiltearn Partners LLP purchased a new stake in shares of FedEx Freight in the 2nd quarter valued at approximately $1,727,000. Twin Lakes Capital Management LLC acquired a new stake in shares of FedEx Freight during the 2nd quarter worth approximately $1,269,000. Finally, F&V Capital Management LLC purchased a new stake in shares of FedEx Freight during the 2nd quarter valued at approximately $4,785,000.

About FedEx Freight

FedEx Freight is the less-than-truckload (LTL) freight transportation arm of FedEx, providing time-definite, regional, and interregional shipping services for commercial customers in North America. The company specializes in moving palletized freight that is too large for parcel shipment but does not require a full truckload, and it offers services designed to help businesses manage supply chain and distribution needs.

As part of the FedEx family of companies, FedEx Freight operates an extensive network of service centers and transportation routes across the United States, Canada, and Mexico.