FedEx (NYSE:FDX) Upgraded at Jefferies Financial Group

FedEx (NYSE:FDX) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat Ratings reports. The firm presently has a $275.00 price objective on the shipping service provider’s stock, down from their prior price objective of $300.00. Jefferies Financial Group’s price target points to a potential upside of 14.02% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and cut their price target for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Wells Fargo & Company lowered their price target on FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. BMO Capital Markets cut their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.60.

FedEx Trading Down 0.5 %

Shares of FDX stock opened at $241.19 on Monday. The stock has a market capitalization of $58.09 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The company has a 50 day moving average price of $258.58 and a 200 day moving average price of $271.75.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the business earned $3.86 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in FedEx during the fourth quarter worth $807,352,000. Raymond James Financial Inc. acquired a new position in shares of FedEx during the 4th quarter worth $234,028,000. Dodge & Cox boosted its position in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Capital Research Global Investors acquired a new stake in FedEx in the 4th quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC increased its holdings in FedEx by 62.9% during the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after acquiring an additional 329,170 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.