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

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

A number of other analysts have also recently commented on FDX. Stifel Nicolaus upped their price target on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday, September 20th. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Evercore ISI cut their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $325.24.

FedEx Stock Performance

Shares of NYSE:FDX traded down $0.15 on Friday, hitting $275.73. The company’s stock had a trading volume of 8,092,276 shares, compared to its average volume of 1,820,057. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock’s 50-day moving average is $282.71 and its two-hundred day moving average is $281.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the company earned $3.99 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that FedEx will post 19.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter worth about $31,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC lifted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx during the third quarter valued at approximately $47,000. Institutional investors own 84.47% of the company’s stock.

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.