FedEx (NYSE:FDX)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a research note issued on Thursday. They presently have a $278.00 price objective on the shipping service provider’s stock, up from their previous price objective of $233.00. Credit Suisse Group’s price target suggests a potential upside of 14.87% from the stock’s current price.
Several other brokerages have also commented on FDX. Vetr lowered FedEx to a “sell” rating and set a $204.84 price target for the company. in a research note on Thursday, August 31st. J P Morgan Chase & Co upped their price target on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Goldman Sachs Group started coverage on FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. Robert W. Baird restated a “buy” rating and set a $235.00 price target on shares of FedEx in a research note on Tuesday, September 12th. Finally, Cowen reaffirmed a “buy” rating and issued a $240.00 target price on shares of FedEx in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $235.21.
Shares of FedEx (NYSE:FDX) opened at $242.02 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx has a 12-month low of $182.89 and a 12-month high of $243.48. The stock has a market capitalization of $64,221.38, a price-to-earnings ratio of 20.11, a PEG ratio of 1.51 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.90 earnings per share. sell-side analysts anticipate that FedEx will post 12.47 EPS for the current fiscal year.
In other news, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Strategic Advisors LLC boosted its holdings in FedEx by 16.7% during the second quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after purchasing an additional 306 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of FedEx in the 2nd quarter worth approximately $435,000. Stevens Capital Management LP boosted its holdings in shares of FedEx by 60.6% in the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock worth $8,550,000 after acquiring an additional 14,845 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of FedEx by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 75.73% 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.
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