Robert W. Baird Reaffirms Outperform Rating for FedEx (NYSE:FDX)

FedEx (NYSE:FDX)‘s stock had its “outperform” rating reissued by analysts at Robert W. Baird in a report issued on Friday, Benzinga reports. They currently have a $340.00 target price on the shipping service provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 18.72% from the stock’s current price.

Several other brokerages have also recently issued reports on FDX. The Goldman Sachs Group lifted their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Stifel Nicolaus reiterated a “buy” rating and set a $327.00 price objective (up previously from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. Wells Fargo & Company raised their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Morgan Stanley boosted their target price on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 26th. Finally, TD Cowen initiated coverage on FedEx in a research report on Thursday, August 22nd. They issued a “buy” rating and a $334.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $314.67.

FedEx Price Performance

Shares of NYSE:FDX opened at $286.38 on Friday. The stock has a market cap of $70.47 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84. The stock’s 50 day moving average price is $293.17 and its 200 day moving average price is $273.58.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company had revenue of $22.11 billion for the quarter, compared to the consensus estimate of $22.04 billion. During the same quarter in the previous year, the business earned $4.94 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’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 directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Steiner sold 1,369 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $297.71, for a total transaction of $407,564.99. Following the transaction, the director now owns 35,183 shares in the company, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is owned by insiders.

Institutional Trading of FedEx

Several large investors have recently made changes to their positions in FDX. Precision Wealth Strategies LLC bought a new stake in FedEx during the fourth quarter worth approximately $324,000. Foundations Investment Advisors LLC grew its stake in FedEx by 18.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,252 shares of the shipping service provider’s stock valued at $545,000 after buying an additional 348 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in FedEx by 7.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,679 shares of the shipping service provider’s stock worth $678,000 after acquiring an additional 179 shares during the period. Haverford Trust Co lifted its position in FedEx by 2.9% during the 4th quarter. Haverford Trust Co now owns 1,891 shares of the shipping service provider’s stock worth $478,000 after acquiring an additional 54 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its holdings in FedEx by 19.2% during the fourth quarter. Meridian Wealth Management LLC now owns 1,354 shares of the shipping service provider’s stock valued at $343,000 after acquiring an additional 218 shares during the period. Institutional investors own 84.47% of the company’s stock.

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.