FedEx (NYSE:FDX) Raised to Buy at StockNews.com

FedEx (NYSE:FDX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other research firms have also commented on FDX. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a report on Friday. Loop Capital raised FedEx from a “hold” rating to a “buy” rating and increased their price target for the stock from $288.00 to $365.00 in a report on Friday. Finally, UBS Group boosted their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Down 0.1 %

FDX opened at $275.73 on Friday. The stock has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx has a one year low of $234.45 and a one year high of $313.84. The business’s 50-day simple moving average is $282.71 and its 200-day simple moving average is $282.10.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 earnings per share. Analysts anticipate that FedEx will post 19.59 EPS for the current year.

Institutional Investors Weigh In On FedEx

Hedge funds have recently modified their holdings of the company. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth approximately $31,000. Abound Wealth Management raised its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the 3rd quarter valued at $47,000. Finally, Sachetta LLC increased its holdings in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

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.