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

FedEx (NYSE:FDXGet Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

FDX has been the topic of a number of other research reports. Raymond James reduced their price objective on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 20th. Barclays reduced their price objective on FedEx from $330.00 to $310.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. TD Cowen boosted their price objective on FedEx from $290.00 to $293.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. reduced their price objective on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 20th. Finally, Bank Of America (Bofa) lifted their target price on FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.93.

Get Our Latest Stock Report on FedEx

FedEx Trading Up 0.7 %

Shares of FDX opened at $244.35 on Friday. FedEx has a 52-week low of $190.83 and a 52-week high of $285.53. The business’s fifty day moving average is $253.10 and its 200-day moving average is $254.62. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a market cap of $61.06 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.14 and a beta of 1.20.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.14 by ($0.15). The business had revenue of $22.17 billion during the quarter, compared to the consensus estimate of $22.36 billion. FedEx had a net margin of 4.87% and a return on equity of 16.47%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.18 EPS. Equities analysts anticipate that FedEx will post 17.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy B. Lane acquired 200 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was purchased at an average cost of $253.22 per share, with a total value of $50,644.00. Following the acquisition, the director now owns 3,304 shares of the company’s stock, valued at approximately $836,638.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Amy B. Lane acquired 200 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was purchased at an average cost of $253.22 per share, with a total value of $50,644.00. Following the acquisition, the director now owns 3,304 shares of the company’s stock, valued at approximately $836,638.88. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were bought at an average cost of $252.02 per share, with a total value of $252,020.00. Following the completion of the acquisition, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The disclosure for this purchase can be found here. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. grew its holdings in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new position in shares of FedEx in the fourth quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners bought a new position in shares of FedEx in the fourth quarter valued at approximately $31,000. Finally, Planned Solutions Inc. bought a new position in shares of FedEx in the fourth quarter valued at approximately $32,000. 73.61% of the stock is owned by institutional investors.

About FedEx

(Get Free Report)

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.

See Also

Analyst Recommendations for FedEx (NYSE:FDX)

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