Wall Street Zen Upgrades FedEx (NYSE:FDX) to “Strong-Buy”
by Scott Moore · The Cerbat GemFedEx (NYSE:FDX – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.
Several other brokerages have also commented on FDX. Morgan Stanley increased their price target on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, March 20th. Evercore upped their price objective on shares of FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Sanford C. Bernstein reissued an “outperform” rating and set a $457.00 target price on shares of FedEx in a research report on Friday, March 6th. The Goldman Sachs Group raised their target price on FedEx from $364.00 to $369.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, TD Cowen boosted their price target on FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $393.85.
Check Out Our Latest Analysis on FDX
FedEx Stock Down 0.1%
Shares of FedEx stock opened at $361.42 on Friday. The firm has a market cap of $86.24 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.59 and a beta of 1.28. The stock has a 50-day simple moving average of $360.43 and a 200-day simple moving average of $300.77. FedEx has a 52-week low of $194.29 and a 52-week high of $392.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.
FedEx (NYSE:FDX – Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.51 earnings per share. On average, equities research analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Norges Bank bought a new position in FedEx during the fourth quarter worth $859,085,000. Vanguard Group Inc. boosted its holdings in FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Boston Partners bought a new stake in FedEx in the 3rd quarter valued at $468,195,000. Dodge & Cox grew its position in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.
About FedEx
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.