BMO Capital Markets Reiterates “Buy” Rating for FedEx (FDX)
FedEx (NYSE:FDX)‘s stock had its “buy” rating restated by research analysts at BMO Capital Markets in a research note issued on Monday. They currently have a $300.00 price target on the shipping service provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 11.67% from the company’s current price.
Other equities analysts have also issued reports about the company. Wells Fargo & Co upped their target price on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Loop Capital reaffirmed a “buy” rating and set a $260.00 target price (up from $250.00) on shares of FedEx in a research report on Wednesday, September 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $221.00 target price (up from $216.00) on shares of FedEx in a research report on Wednesday, September 20th. Citigroup upped their target price on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, UBS Group lowered FedEx from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $235.00 to $233.00 in a research report on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and an average target price of $267.16.
Shares of FedEx (NYSE FDX) traded up $2.74 on Monday, reaching $268.66. The company’s stock had a trading volume of 1,947,284 shares, compared to its average volume of 1,890,000. FedEx has a 12-month low of $182.89 and a 12-month high of $271.39. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The firm has a market capitalization of $71,970.00, a price-to-earnings ratio of 24.69, a PEG ratio of 1.60 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. equities research analysts expect that FedEx will post 13.03 EPS for the current fiscal year.
In related news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO David J. Bronczek sold 46,555 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders sold a total of 65,655 shares of company stock valued at $16,334,753 over the last three months. 8.45% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in FDX. Salem Investment Counselors Inc. grew its stake in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC grew its stake in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the period. Financial Engines Advisors L.L.C. bought a new position in FedEx in the 3rd quarter valued at $132,000. Massey Quick Simon & CO. LLC bought a new position in FedEx in the 3rd quarter valued at $136,000. Finally, Carroll Financial Associates Inc. grew its stake in FedEx by 61.1% in the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after purchasing an additional 240 shares during the period. Hedge funds and other institutional investors own 75.66% of the company’s stock.
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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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