FedEx (NYSE:FDX) was upgraded by equities researchers at Standpoint Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, September 19th, The Fly reports.
Several other brokerages have also commented on FDX. Credit Suisse Group reduced their price objective on FedEx from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. ValuEngine lowered FedEx from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. DZ Bank restated a “sell” rating on shares of FedEx in a research report on Wednesday, September 18th. Deutsche Bank upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Oppenheimer cut their price objective on FedEx from $176.00 to $167.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. FedEx currently has a consensus rating of “Hold” and an average target price of $171.64.
FDX traded up $4.18 during trading on Thursday, reaching $145.54. 3,923,210 shares of the company were exchanged, compared to its average volume of 3,984,857. The company’s 50-day moving average is $153.52 and its two-hundred day moving average is $166.89. FedEx has a 12-month low of $137.78 and a 12-month high of $234.49. The company has a market cap of $37.97 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 0.96 and a beta of 1.72. The company has a quick ratio of 1.25, a current ratio of 1.31 and a debt-to-equity ratio of 1.70.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.12). The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $17.05 billion. FedEx had a net margin of 0.65% and a return on equity of 21.15%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $3.46 EPS. Equities analysts forecast that FedEx will post 12.11 earnings per share for the current year.
In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Brad Martin purchased 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $145.00 per share, with a total value of $145,000.00. Following the acquisition, the director now directly owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in FDX. Parnassus Investments CA grew its holdings in FedEx by 2,614.2% during the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock valued at $574,644,000 after purchasing an additional 3,370,929 shares during the period. BlackRock Inc. grew its holdings in FedEx by 9.5% during the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after purchasing an additional 1,395,988 shares during the period. Nuveen Asset Management LLC grew its holdings in FedEx by 11,911.3% during the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock valued at $183,645,000 after purchasing an additional 1,109,177 shares during the period. Artisan Partners Limited Partnership grew its holdings in FedEx by 40.7% during the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after purchasing an additional 792,575 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of FedEx by 63.5% in the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after acquiring an additional 601,465 shares in the last quarter. 71.32% of the stock is owned by institutional investors and hedge funds.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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