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

FedEx (NYSE:FDX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other equities analysts have also issued reports on FDX. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 0.1 %

FDX opened at $292.28 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $71.41 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.15 and a beta of 1.17. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a 50-day moving average of $275.04 and a 200 day moving average of $275.95.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the business earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that FedEx will post 19.59 EPS for the current year.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently bought and sold shares of the stock. Capital International Investors raised its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after buying an additional 161,022 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

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.