FedEx (NYSE:FDX) Upgraded by StockNews.com to “Buy” Rating

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

FDX has been the subject of a number of other research reports. TD Cowen dropped their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Raymond James dropped their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an “outperform” 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Up 0.1 %

Shares of NYSE:FDX opened at $292.28 on Wednesday. The stock has a fifty day simple moving average of $275.04 and a two-hundred day simple moving average of $275.95. The stock has a market capitalization of $71.41 billion, a price-to-earnings ratio of 18.03, a PEG 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 company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $4.55 EPS. On average, research analysts anticipate that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Trading of FedEx

Large investors have recently modified their holdings of the business. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter worth $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx in the 3rd quarter worth $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

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.