FedEx (NYSE:FDX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $310.00 price objective on the shipping service provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.18% from the company’s current price.
According to Zacks, “Shares of FedEx have outperformed its industry as well as rival United Parcel Service over the past year. While FedEx has gained 45.9%, the industry it belongs to and UPS have rallied 27.1% and 17.3%, respectively, in the same time period. Ushering in further good news, FedEx experienced a highly successful holiday season driven by increased package volumes. In fact, the strong growth of e-commerce is a huge positive for the company. The new tax law is also expected to aid the company significantly. The company's efforts to reward its shareholders through dividend payments and share buybacks are also encouraging. The positive sentiment surrounding the stock may be gauged from the fact that the Zacks Consensus Estimate for fiscal 2018 earnings has increased 5.3% over the last 60 days. However, high costs are hurting the bottom line. Significant investments at the company's Ground unit are pushing up costs.”
A number of other research firms have also commented on FDX. Bank of America reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. BMO Capital Markets reiterated a “buy” rating and issued a $300.00 price objective on shares of FedEx in a research note on Monday, January 8th. Robert W. Baird reiterated a “buy” rating and issued a $280.00 price objective on shares of FedEx in a research note on Tuesday, January 9th. UBS Group upgraded FedEx from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $264.00 to $302.00 in a research note on Friday, January 5th. Finally, Loop Capital lifted their price objective on FedEx to $318.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $270.49.
FedEx (NYSE:FDX) opened at $271.49 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50. The company has a market capitalization of $72,730.00, a PE ratio of 24.95, a PEG ratio of 1.61 and a beta of 1.36. FedEx has a 12 month low of $182.89 and a 12 month high of $273.16.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. research analysts predict that FedEx will post 13.13 EPS for the current fiscal year.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders have sold 68,671 shares of company stock worth $17,137,160 over the last ninety days. 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 FDX. Salem Investment Counselors Inc. boosted its holdings in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx in the 3rd quarter worth approximately $132,000. Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $136,000. Finally, Carroll Financial Associates Inc. boosted its holdings in shares of FedEx by 61.1% in the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. 75.69% of the stock is currently owned by institutional investors.
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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.
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