FedEx (NYSE:FDX) Stock Rating Lowered by 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 Wednesday.

FDX has been the subject of several other reports. Bank of America lifted their target price on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen raised their target price on shares of FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

FedEx stock opened at $278.62 on Wednesday. The firm has a market capitalization of $68.56 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84. The firm has a 50-day moving average price of $280.49 and a 200-day moving average price of $265.06. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the previous year, the business earned $4.94 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx will post 20.94 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently bought and sold shares of FDX. Fortis Group Advisors LLC boosted its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in FedEx in the fourth quarter valued at approximately $25,000. Private Wealth Management Group LLC acquired a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of FedEx during the 4th quarter valued at approximately $30,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of FedEx in the 4th quarter valued at $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.