Loop Capital Upgrades FedEx (NYSE:FDX) to Buy

FedEx (NYSE:FDX) was upgraded by research analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $365.00 price target on the shipping service provider’s stock, up from their prior price target of $288.00. Loop Capital’s price target would indicate a potential upside of 32.38% from the stock’s current price.

Several other research firms have also issued reports on FDX. BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Raymond James cut their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Down 0.1 %

FDX stock opened at $275.73 on Friday. The stock has a 50-day simple moving average of $282.71 and a two-hundred day simple moving average of $282.10. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the previous year, the company earned $3.99 earnings per share. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares in the last quarter. Franklin Resources Inc. raised its holdings in FedEx by 8.6% in 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 purchasing an additional 314,380 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the period. 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.