FedEx (NYSE:FDX) Raised to “Buy” at StockNews.com

FedEx (NYSE:FDX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently commented on the stock. Evercore ISI reduced their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Stephens dropped their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group lifted their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Performance

NYSE:FDX opened at $275.73 on Friday. The company has a fifty day moving average of $282.71 and a two-hundred day moving average of $282.10. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market capitalization of $67.37 billion, a PE ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. 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 earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the business posted $3.99 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in shares of FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Franklin Resources Inc. grew its holdings in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. World Investment Advisors LLC increased its position in shares of FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares in 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.