Truist Financial Begins Coverage on FedEx (NYSE:FDX)

Analysts at Truist Financial assumed coverage on shares of FedEx (NYSE:FDX) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $305.00 price target on the shipping service provider’s stock. Truist Financial’s price objective suggests a potential upside of 25.89% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus cut their price objective on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets boosted their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, Loop Capital cut FedEx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $365.00 to $283.00 in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $318.04.

FedEx Trading Up 0.5 %

Shares of FedEx stock opened at $242.27 on Thursday. The stock has a fifty day simple moving average of $263.04 and a 200 day simple moving average of $274.51. FedEx has a 12-month low of $239.50 and a 12-month high of $313.84. The company has a market capitalization of $58.35 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the company posted $3.99 earnings per share. FedEx’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On FedEx

Several institutional investors have recently modified their holdings of FDX. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Transce3nd LLC purchased a new stake in FedEx during the 4th quarter valued at about $26,000. Peoples Financial Services CORP. purchased a new stake in FedEx during the 4th quarter valued at about $28,000. City Holding Co. purchased a new stake in FedEx during the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co purchased a new stake in FedEx during the 4th quarter valued at about $28,000. 84.47% of the stock is currently owned by institutional investors.

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.