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

FedEx (NYSE:FDX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently issued reports on FDX. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird decreased their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Citigroup boosted their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus decreased their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $315.42.

FedEx Price Performance

Shares of NYSE:FDX opened at $287.32 on Wednesday. The firm has a market cap of $70.20 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.15 and a beta of 1.17. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm’s fifty day moving average is $275.18 and its 200-day moving average is $275.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.55 EPS. Sell-side analysts predict that FedEx will post 19.59 earnings per share for the current year.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently modified their holdings of FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management increased its position 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 buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other 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.