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

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

Several other research firms have also recently issued reports on FDX. Stephens reaffirmed an “overweight” rating and issued a $290.00 price target on shares of FedEx in a report on Thursday, September 21st. The Goldman Sachs Group upped their price target on FedEx from $269.00 to $278.00 in a report on Wednesday, September 13th. BMO Capital Markets increased their target price on FedEx from $280.00 to $290.00 and gave the company a “market perform” rating in a report on Friday, September 22nd. Barclays increased their target price on FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, September 15th. Finally, Evercore ISI increased their target price on FedEx from $275.00 to $276.00 and gave the company an “outperform” rating in a report on Monday, September 18th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $282.54.

FedEx Stock Down 0.2 %

Shares of FDX traded down $0.41 during midday trading on Monday, reaching $255.54. 1,198,311 shares of the company were exchanged, compared to its average volume of 1,950,333. The stock has a 50-day moving average price of $250.56 and a 200-day moving average price of $247.58. The company has a market cap of $64.25 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.18 and a beta of 1.34. FedEx has a 1-year low of $162.61 and a 1-year high of $270.95. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76.

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

Insider Activity

In other news, VP Jennifer L. Johnson sold 13,348 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $258.25, for a total value of $3,447,121.00. Following the sale, the vice president now directly owns 3,428 shares of the company’s stock, valued at $885,281. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of institutional investors have recently added to or reduced their stakes in FDX. Archer Investment Corp raised its holdings in 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 in the last quarter. Cascade Investment Advisors Inc. raised its holdings in 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 in the last quarter. Massachusetts Wealth Management raised its holdings in 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 in the last quarter. Camarda Financial Advisors LLC raised its holdings 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 worth $1,591,000 after purchasing an additional 40 shares in the last quarter. Finally, Zullo Investment Group Inc. grew its position in shares of FedEx by 0.8% in the 2nd quarter. Zullo Investment Group Inc. now owns 5,497 shares of the shipping service provider’s stock worth $1,363,000 after buying an additional 41 shares during the period. 73.61% of the stock is 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.