Citigroup Reaffirms Buy Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “buy” rating restated by Citigroup in a research note issued on Thursday,Benzinga reports. They currently have a $443.00 price target on the shipping service provider’s stock. Citigroup’s price objective would suggest a potential upside of 14.92% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $479.00 price target on shares of FedEx in a research report on Friday, February 13th. Raymond James Financial lifted their price objective on shares of FedEx from $305.00 to $410.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Wolfe Research decreased their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Stephens restated an “overweight” rating and issued a $435.00 price target on shares of FedEx in a research note on Tuesday, April 14th. Finally, HSBC raised FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price target on the stock in a research report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $399.65.

FedEx Trading Down 0.3%

Shares of NYSE:FDX opened at $385.50 on Thursday. The firm has a market cap of $91.98 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.42 and a beta of 1.29. FedEx has a 12 month low of $214.35 and a 12 month high of $404.03. The company’s fifty day simple moving average is $369.79 and its 200 day simple moving average is $331.43. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. As a group, research analysts forecast that FedEx will post 19.72 EPS for the current fiscal year.

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 over the last quarter. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter worth approximately $25,000. Bayban bought a new stake in shares of FedEx in the first quarter worth $26,000. Grey Fox Wealth Advisors LLC acquired a new stake in FedEx in the third quarter valued at $27,000. EFG International AG acquired a new stake in FedEx in the fourth quarter valued at $27,000. Finally, Wealth Watch Advisors INC bought a new position in FedEx during the 3rd quarter worth $28,000. Institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.