FedEx (NYSE:FDX) Earns “Buy” Rating from Truist Financial

FedEx (NYSE:FDX)‘s stock had its “buy” rating restated by analysts at Truist Financial in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $275.00 target price on the shipping service provider’s stock. Truist Financial’s price objective would indicate a potential upside of 24.44% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Citigroup cut their price objective on shares of FedEx from $267.00 to $259.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays reissued an “overweight” rating and issued a $320.00 price target (down previously from $330.00) on shares of FedEx in a research note on Wednesday. BMO Capital Markets cut their price target on FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a report on Monday, May 19th. Raymond James Financial reiterated an “outperform” rating and set a $260.00 price objective (down from $275.00) on shares of FedEx in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.17.

FedEx Stock Performance

FDX stock opened at $220.99 on Wednesday. FedEx has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm has a market cap of $52.95 billion, a PE ratio of 13.09, a P/E/G ratio of 1.13 and a beta of 1.35. The business’s 50-day moving average price is $219.75 and its two-hundred day moving average price is $243.30.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the business posted $5.41 EPS. As a group, research analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. bought a new position in FedEx during the first quarter worth $147,000. Farther Finance Advisors LLC lifted its stake in shares of FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock worth $538,000 after buying an additional 481 shares during the last quarter. Allianz SE acquired a new stake in shares of FedEx during the 4th quarter worth about $18,342,000. Parvin Asset Management LLC bought a new stake in shares of FedEx during the 4th quarter worth about $281,000. Finally, Landscape Capital Management L.L.C. grew its stake in FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider’s stock valued at $3,734,000 after buying an additional 6,180 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.