FedEx Corporation (FDX) Stock Rating Lowered by UBS AG
FedEx Corporation (NYSE:FDX) was downgraded by equities research analysts at UBS AG from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.
A number of other analysts have also issued reports on FDX. Cowen and Company reiterated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 11th. Loop Capital restated a “buy” rating and set a $234.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein restated a “market perform” rating and set a $220.00 target price on shares of FedEx Corporation in a research note on Monday, July 3rd. Robert W. Baird restated a “buy” rating and set a $235.00 target price on shares of FedEx Corporation in a research note on Tuesday. Finally, Vetr lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 target price on the stock. in a research note on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $223.72.
FedEx Corporation (NYSE FDX) opened at 214.51 on Friday. The stock has a market cap of $57.54 billion, a P/E ratio of 19.38 and a beta of 1.28. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The company has a 50-day moving average of $209.53 and a 200 day moving average of $201.81.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. Analysts predict that FedEx Corporation will post $13.48 EPS for the current year.
In other FedEx Corporation news, Director Kim Jabal sold 5,918 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total value of $1,278,583.90. Following the completion of the transaction, the director now owns 3,610 shares in the company, valued at $779,940.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total value of $5,173,161.12. Following the completion of the transaction, the executive vice president now owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock valued at $16,447,426 in the last 90 days. Company insiders own 8.45% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its position in FedEx Corporation by 6.7% in the second quarter. Perigon Wealth Management LLC now owns 18,118 shares of the shipping service provider’s stock worth $3,947,000 after acquiring an additional 1,135 shares in the last quarter. Intl Fcstone Inc. purchased a new position in FedEx Corporation in the second quarter worth $320,000. M Holdings Securities Inc. purchased a new position in FedEx Corporation in the second quarter worth $226,000. RNC Capital Management LLC raised its position in FedEx Corporation by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after acquiring an additional 15 shares in the last quarter. Finally, WFG Advisors LP raised its position in FedEx Corporation by 8.5% in the second quarter. WFG Advisors LP now owns 5,712 shares of the shipping service provider’s stock worth $1,241,000 after acquiring an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.
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.
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