FedEx (NYSE:FDX) Downgraded to Buy at StockNews.com

FedEx (NYSE:FDX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

A number of other research analysts have also weighed in on the company. UBS Group upped their price objective on FedEx from $312.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Wells Fargo & Company upped their price objective on FedEx from $270.00 to $280.00 and gave the stock an “equal weight” rating in a report on Thursday, September 21st. The Goldman Sachs Group boosted their target price on FedEx from $269.00 to $278.00 in a research report on Wednesday, September 13th. Bank of America boosted their target price on FedEx from $309.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Finally, Raymond James boosted their target price on FedEx from $270.00 to $279.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $282.54.

FedEx Stock Performance

Shares of NYSE:FDX traded down $0.41 during trading on Monday, reaching $255.54. The company had a trading volume of 1,198,311 shares, compared to its average volume of 1,950,333. The firm has a market capitalization of $64.25 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.18 and a beta of 1.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.37 and a quick ratio of 1.32. The stock’s fifty day moving average price is $250.56 and its 200 day moving average price is $247.58. FedEx has a fifty-two week low of $162.61 and a fifty-two week high of $270.95.

FedEx (NYSE:FDX) last released its earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.71 by $0.84. The business had revenue of $21.68 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a return on equity of 16.14% and a net margin of 4.71%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.44 earnings per share. As a group, equities research analysts predict that FedEx will post 18.14 EPS for the current year.

Insider Buying and Selling

In other FedEx news, VP Jennifer L. Johnson sold 13,348 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $258.25, for a total transaction of $3,447,121.00. Following the completion of the sale, the vice president now directly owns 3,428 shares in the company, valued at $885,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Archer Investment Corp lifted its holdings in shares of FedEx by 0.7% in the 2nd quarter. Archer Investment Corp now owns 5,417 shares of the shipping service provider’s stock worth $1,343,000 after purchasing an additional 38 shares during the last quarter. Cascade Investment Advisors Inc. lifted its holdings in shares of FedEx by 0.6% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 6,904 shares of the shipping service provider’s stock worth $1,712,000 after purchasing an additional 40 shares during the last quarter. Massachusetts Wealth Management lifted its holdings in shares of FedEx by 2.9% in the 2nd quarter. Massachusetts Wealth Management now owns 1,405 shares of the shipping service provider’s stock worth $348,000 after purchasing an additional 40 shares during the last quarter. Camarda Financial Advisors LLC increased its position in FedEx by 0.6% in the 2nd quarter. Camarda Financial Advisors LLC now owns 6,419 shares of the shipping service provider’s stock valued at $1,591,000 after acquiring an additional 40 shares during the period. Finally, Zullo Investment Group Inc. increased its position in FedEx by 0.8% in the 2nd quarter. Zullo Investment Group Inc. now owns 5,497 shares of the shipping service provider’s stock valued at $1,363,000 after acquiring an additional 41 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.

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.