FedEx (FDX) Earns Buy Rating from Oppenheimer

FedEx (NYSE:FDX)‘s stock had its “buy” rating reiterated by equities researchers at Oppenheimer in a research note issued on Wednesday. They presently have a $265.00 target price on the shipping service provider’s stock. Oppenheimer’s price objective points to a potential upside of 9.26% from the company’s previous close.

A number of other research analysts also recently commented on FDX. Citigroup reaffirmed a “buy” rating and set a $280.00 price objective on shares of FedEx in a research note on Wednesday. Wells Fargo & Company set a $275.00 price objective on shares of FedEx and gave the company a “buy” rating in a research note on Wednesday. Stephens set a $306.00 price objective on shares of FedEx and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein set a $236.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Wednesday. Finally, Bank of America upped their price objective on shares of FedEx from $247.00 to $293.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $248.01.

Shares of FedEx (FDX) traded up $0.63 during mid-day trading on Wednesday, reaching $242.54. 2,329,900 shares of the company traded hands, compared to its average volume of 1,482,946. FedEx has a 12-month low of $182.89 and a 12-month high of $243.75. The firm has a market cap of $64,867.61, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. sell-side analysts predict that FedEx will post 12.47 EPS for the current year.

In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares in the company, valued at approximately $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock valued at $9,024,637 in the last quarter. Company insiders own 8.45% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC boosted its holdings in FedEx by 6.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 711,657 shares of the shipping service provider’s stock worth $160,536,000 after acquiring an additional 41,956 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of FedEx by 118.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,706 shares of the shipping service provider’s stock valued at $385,000 after purchasing an additional 926 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $259,000. Moors & Cabot Inc. raised its position in shares of FedEx by 34.3% in the 3rd quarter. Moors & Cabot Inc. now owns 2,234 shares of the shipping service provider’s stock valued at $505,000 after purchasing an additional 571 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $303,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.

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About FedEx

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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