FedEx (NYSE:FDX) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of FedEx (NYSE:FDX) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other research analysts also recently commented on FDX. Citigroup cut their target price on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Stephens restated an “overweight” rating and issued a $300.00 price objective on shares of FedEx in a research report on Tuesday. BMO Capital Markets decreased their target price on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating on the stock in a report on Monday. UBS Group lowered their target price on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Truist Financial reduced their price target on shares of FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.00.

FedEx Stock Performance

Shares of FDX stock opened at $218.64 on Thursday. The firm’s 50 day moving average is $221.17 and its 200 day moving average is $255.20. The stock has a market capitalization of $52.39 billion, a P/E ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.36. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm earned $3.86 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx will post 19.14 earnings per share for the current year.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by corporate insiders.

Institutional Trading of FedEx

Several institutional investors have recently added to or reduced their stakes in FDX. Ritholtz Wealth Management bought a new position in FedEx during the 4th quarter worth approximately $249,000. Atomi Financial Group Inc. boosted its stake in shares of FedEx by 18.2% during the fourth quarter. Atomi Financial Group Inc. now owns 1,400 shares of the shipping service provider’s stock valued at $394,000 after purchasing an additional 216 shares during the period. Beaumont Financial Advisors LLC boosted its stake in shares of FedEx by 106.0% during the fourth quarter. Beaumont Financial Advisors LLC now owns 1,813 shares of the shipping service provider’s stock valued at $510,000 after purchasing an additional 933 shares during the period. Red Door Wealth Management LLC grew its holdings in shares of FedEx by 0.9% in the fourth quarter. Red Door Wealth Management LLC now owns 32,838 shares of the shipping service provider’s stock worth $9,238,000 after purchasing an additional 303 shares during the last quarter. Finally, Secure Asset Management LLC increased its stake in shares of FedEx by 9.7% in the fourth quarter. Secure Asset Management LLC now owns 913 shares of the shipping service provider’s stock worth $257,000 after buying an additional 81 shares during the period. 84.47% of the stock is currently owned by hedge funds and other 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.