FedEx Co. (FDX) Stock Rating Upgraded by Zacks Investment Research
FedEx Co. (NYSE:FDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $215.00 price objective on the shipping service provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.18% from the company’s previous close.
According to Zacks, “We note that the shares of FedEx have performed better than the Zacks categorized Transportation- Air Freight industry and those of rival United Parcel in the last three months.Shares of FedEx have contracted marginally (less than 1%), while those of United Parcel have shed 2.3%. The industry has lost 4.4%. FedEx's bullish view for the fourth quarter of fiscal 2017 is encouraging. Consequently, the Zacks Consensus Estimate for the quarter has increased $0.01 to $3.84 per share over the last sixty days. Detailed results should be out on Jun 20. We are impressed by the company's decision to reward shareholders through dividend payments and share buybacks. FedEx's expansion related efforts also raise optimism. However, headwinds like high costs raise concerns.”
Several other research firms have also recently weighed in on FDX. Robert W. Baird raised their price objective on shares of FedEx from $209.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday, March 23rd. Deutsche Bank AG set a $209.00 target price on shares of FedEx and gave the company a “buy” rating in a research note on Saturday, March 18th. BMO Capital Markets raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research note on Monday, March 6th. They noted that the move was a valuation call. Vetr lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $195.71 target price on the stock. in a research note on Tuesday, February 14th. Finally, Stifel Nicolaus raised their target price on shares of FedEx from $189.00 to $194.00 and gave the company a “hold” rating in a research note on Wednesday, March 22nd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $207.73.
Shares of FedEx (NYSE:FDX) traded up 0.66% during mid-day trading on Tuesday, hitting $192.92. 311,926 shares of the stock were exchanged. FedEx has a 1-year low of $145.00 and a 1-year high of $201.57. The firm has a market cap of $51.58 billion, a price-to-earnings ratio of 27.43 and a beta of 1.14. The company’s 50-day moving average is $190.34 and its 200-day moving average is $190.62.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.62 by $0.27. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $15 billion. FedEx had a net margin of 3.35% and a return on equity of 22.02%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 EPS. Equities research analysts anticipate that FedEx will post $11.93 earnings per share for the current fiscal year.
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In other news, EVP Alan B. Graf, Jr. sold 25,655 shares of the business’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $195.00, for a total value of $5,002,725.00. Following the completion of the sale, the executive vice president now owns 151,536 shares of the company’s stock, valued at $29,549,520. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David L. Cunningham, Jr. sold 11,499 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $197.89, for a total transaction of $2,275,537.11. Following the completion of the sale, the chief executive officer now directly owns 33,677 shares of the company’s stock, valued at approximately $6,664,341.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,598 shares of company stock valued at $37,347,615. Company insiders own 8.67% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its stake in shares of FedEx by 10.6% in the third quarter. Mutual of America Capital Management LLC now owns 39,529 shares of the shipping service provider’s stock worth $6,905,000 after buying an additional 3,784 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of FedEx by 43.7% in the third quarter. Stratos Wealth Partners LTD. now owns 9,645 shares of the shipping service provider’s stock worth $1,685,000 after buying an additional 2,931 shares during the last quarter. NEXT Financial Group Inc boosted its stake in shares of FedEx by 30.9% in the third quarter. NEXT Financial Group Inc now owns 6,077 shares of the shipping service provider’s stock worth $1,062,000 after buying an additional 1,433 shares during the last quarter. Boys Arnold & Co. Inc. boosted its stake in shares of FedEx by 0.9% in the third quarter. Boys Arnold & Co. Inc. now owns 9,812 shares of the shipping service provider’s stock worth $1,714,000 after buying an additional 85 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of FedEx by 1.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,625 shares of the shipping service provider’s stock worth $1,332,000 after buying an additional 125 shares during the last quarter. 75.22% of the stock is owned by institutional investors.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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