FedEx (NYSE:FDX) Earns Overweight Rating from Stephens

by · The Markets Daily

FedEx (NYSE:FDX – Get Free Report)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $350.00 price objective on the shipping service provider’s stock. Stephens’ target price would indicate a potential upside of 37.45% from the company’s previous close.

A number of other research firms have also issued reports on FDX. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $215.00 to $200.00 in a research note on Friday. Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus reduced their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

Get Our Latest Research Report on FedEx

FedEx Price Performance

Shares of NYSE:FDX opened at $254.64 on Friday. The stock has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The business has a 50-day moving average of $292.43 and a two-hundred day moving average of $275.04. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX – Get Free Report) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts predict that FedEx will post 20.82 EPS for the current fiscal year.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the transaction, the director now directly owns 14,745 shares in the company, valued at $4,345,646.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last 90 days. 8.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx during the 4th quarter worth about $25,000. Central Valley Advisors LLC bought a new position in shares of FedEx in the second quarter worth about $39,000. Security National Bank acquired a new position in shares of FedEx during the fourth quarter worth approximately $44,000. Finally, Abound Wealth Management grew its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

(Get Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

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