FedEx (NYSE:FDX) Upgraded by StockNews.com to “Buy”

FedEx (NYSE:FDX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other brokerages have also recently weighed in on FDX. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Bank of America lowered their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. TD Cowen reduced their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Price Performance

FDX opened at $267.54 on Friday. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $288.84 and a two-hundred day simple moving average of $275.28. The company has a market cap of $65.84 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts predict that FedEx will post 19.66 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director David P. Steiner sold 1,369 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the completion of the sale, the director now owns 35,183 shares in the company, valued at approximately $10,474,330.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,399 shares of company stock valued at $4,420,615. 8.73% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently bought and sold shares of FDX. SeaCrest Wealth Management LLC boosted its position in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC boosted its position in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC boosted its position in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its holdings in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

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.