FedEx (FDX) Earns Buy Rating from Robert W. Baird

FedEx (NYSE:FDX)‘s stock had its “buy” rating reaffirmed by equities researchers at Robert W. Baird in a research report issued on Monday. They currently have a $270.00 price target on the shipping service provider’s stock. Robert W. Baird’s price target indicates a potential upside of 13.34% from the stock’s current price.

Other equities analysts have also issued reports about the company. Loop Capital upped their target price on FedEx to $318.00 in a research report on Thursday, January 4th. Wells Fargo & Co set a $275.00 target price on FedEx and gave the company a “buy” rating in a research report on Wednesday, December 20th. Citigroup upped their target price on FedEx to $275.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Oppenheimer reaffirmed a “buy” rating and issued a $236.00 target price on shares of FedEx in a research report on Friday, October 20th. Finally, Goldman Sachs Group initiated coverage on FedEx in a research report on Monday, November 13th. They issued a “buy” rating and a $270.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $272.69.

FedEx (NYSE:FDX) traded up $2.90 during midday trading on Monday, reaching $238.22. The company’s stock had a trading volume of 858,331 shares, compared to its average volume of 1,934,397. FedEx has a 52-week low of $182.89 and a 52-week high of $274.66. The stock has a market cap of $63,040.00, a PE ratio of 21.76, a PEG ratio of 1.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same period in the prior year, the company posted $2.80 EPS. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. equities analysts anticipate that FedEx will post 13.45 EPS for the current fiscal year.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. grew its stake in FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the last quarter. Cerebellum GP LLC bought a new position in FedEx during the 4th quarter worth $125,000. Krilogy Financial LLC grew its stake in FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new position in FedEx during the 3rd quarter worth $132,000. Finally, Massey Quick Simon & CO. LLC bought a new position in FedEx during the 3rd quarter worth $136,000. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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FedEx 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 (NYSE:FDX)

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