FedEx (NYSE:FDX) Rating Increased to Buy at StockNews.com

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

A number of other brokerages have also recently weighed in on FDX. TD Cowen cut their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Citigroup initiated coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price on the stock. Finally, HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Up 0.4 %

Shares of FedEx stock opened at $269.79 on Monday. The stock has a market capitalization of $66.39 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.06 and a beta of 1.17. FedEx has a twelve month low of $224.69 and a twelve 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 business’s 50 day simple moving average is $279.63 and its 200-day simple moving average is $274.90.

FedEx (NYSE:FDX) last issued 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). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 earnings per share. Equities research analysts forecast that FedEx will post 19.6 earnings per share for the current year.

Hedge Funds Weigh In On FedEx

Several institutional investors and hedge funds have recently bought and sold shares of FDX. Romano Brothers AND Company grew its position in FedEx by 2.5% during the third quarter. Romano Brothers AND Company now owns 35,660 shares of the shipping service provider’s stock valued at $9,759,000 after purchasing an additional 861 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the period. Lake Street Private Wealth LLC boosted its stake in shares of FedEx by 2.2% during the 3rd quarter. Lake Street Private Wealth LLC now owns 13,777 shares of the shipping service provider’s stock valued at $3,770,000 after buying an additional 297 shares during the period. Greenleaf Trust grew its holdings in shares of FedEx by 2.5% during the 3rd quarter. Greenleaf Trust now owns 5,028 shares of the shipping service provider’s stock valued at $1,376,000 after acquiring an additional 122 shares in the last quarter. Finally, WT Wealth Management increased its stake in shares of FedEx by 2.9% in the third quarter. WT Wealth Management now owns 8,311 shares of the shipping service provider’s stock worth $2,281,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

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.