FedEx Corporation (NYSE:FDX)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Monday. They currently have a $237.00 target price on the shipping service provider’s stock. Credit Suisse Group’s target price points to a potential upside of 13.74% from the stock’s previous close.

A number of other research firms have also recently issued reports on FDX. Bank of America Corporation reissued a “buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price objective for the company in a research report on Friday, June 2nd. Loop Capital restated a “buy” rating and set a $234.00 target price on shares of FedEx Corporation in a report on Tuesday, July 4th. Finally, UBS AG restated a “buy” rating and set a $235.00 target price (up from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. FedEx Corporation presently has a consensus rating of “Buy” and an average target price of $221.78.

Shares of FedEx Corporation (NYSE FDX) traded down 0.45% during mid-day trading on Monday, hitting $208.37. The stock had a trading volume of 988,585 shares. The company has a 50 day moving average price of $213.53 and a 200 day moving average price of $197.66. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The firm has a market cap of $55.90 billion, a P/E ratio of 18.82 and a beta of 1.27.

FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 earnings per share. Equities analysts forecast that FedEx Corporation will post $13.60 earnings per share for the current fiscal year.

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In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the sale, the chief executive officer now directly owns 29,148 shares of the company’s stock, valued at $6,150,228. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the sale, the vice president now directly owns 33,908 shares in the company, valued at $7,163,404.08. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock worth $16,447,426 over the last 90 days. Corporate insiders own 8.67% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY boosted its position in shares of FedEx Corporation by 22.0% in the first quarter. Spirit of America Management Corp NY now owns 3,050 shares of the shipping service provider’s stock valued at $595,000 after buying an additional 550 shares during the last quarter. Adirondack Trust Co. boosted its position in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the last quarter. Gradient Investments LLC boosted its position in shares of FedEx Corporation by 827.6% in the first quarter. Gradient Investments LLC now owns 1,141 shares of the shipping service provider’s stock valued at $223,000 after buying an additional 1,018 shares during the last quarter. Bank of Montreal Can boosted its position in shares of FedEx Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 1,006,806 shares of the shipping service provider’s stock valued at $196,478,000 after buying an additional 138,799 shares during the last quarter. Finally, Univest Corp of Pennsylvania boosted its position in shares of FedEx Corporation by 6.4% in the first quarter. Univest Corp of Pennsylvania now owns 17,714 shares of the shipping service provider’s stock valued at $3,457,000 after buying an additional 1,070 shares during the last quarter. 76.36% of the stock is currently owned by institutional investors.

FedEx Corporation Company Profile

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.

Analyst Recommendations for FedEx Corporation (NYSE:FDX)

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