FedEx Co. (FDX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of FedEx Co. (NYSE:FDX) have been given a consensus recommendation of “Buy” by the twenty-eight ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, twenty-two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $273.12.

Several brokerages have recently commented on FDX. Cowen reiterated an “outperform” rating and set a $240.00 price objective on shares of FedEx in a report on Friday, October 13th. Oppenheimer reiterated a “buy” rating and set a $265.00 price objective (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and set a $300.00 price objective on shares of FedEx in a report on Monday, January 8th. Finally, Sanford C. Bernstein set a $212.00 price objective on FedEx and gave the company a “hold” rating in a report on Wednesday, November 15th.

In other FedEx news, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. Insiders have sold a total of 53,541 shares of company stock valued at $13,692,142 in the last quarter. Company insiders own 8.45% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beach Investment Management LLC. acquired a new stake in shares of FedEx during the 2nd quarter valued at about $11,976,000. Oppenheimer & Co. Inc. grew its position in shares of FedEx by 5.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 15,838 shares of the shipping service provider’s stock valued at $3,442,000 after acquiring an additional 884 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of FedEx by 17.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 40,661 shares of the shipping service provider’s stock valued at $8,838,000 after acquiring an additional 6,070 shares during the period. Burney Co. grew its position in shares of FedEx by 2.1% during the 2nd quarter. Burney Co. now owns 14,857 shares of the shipping service provider’s stock valued at $3,198,000 after acquiring an additional 305 shares during the period. Finally, Cedar Capital LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at about $303,000. Institutional investors and hedge funds own 76.23% of the company’s stock.

Shares of FedEx (FDX) opened at $239.27 on Friday. FedEx has a twelve month low of $182.89 and a twelve month high of $274.66. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $67,280.47, a price-to-earnings ratio of 22.05, a PEG ratio of 1.47 and a beta of 1.30.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. sell-side analysts expect that FedEx will post 13.38 earnings per share for the current year.

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About FedEx

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 (NYSE:FDX)

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