FedEx Corporation (NYSE:FDX)‘s stock had its “outperform” rating restated by investment analysts at Credit Suisse Group in a report released on Friday. They currently have a $233.00 target price on the shipping service provider’s stock, down from their previous target price of $242.00. Credit Suisse Group’s target price would indicate a potential upside of 5.67% from the company’s previous close.
Other research analysts also recently issued reports about the company. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target for the company in a research report on Friday, June 2nd. UBS AG reaffirmed a “buy” rating and set a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Deutsche Bank AG set a $235.00 price target on FedEx Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 price target (up previously from $230.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $224.81.
Shares of FedEx Corporation (NYSE FDX) traded up 2.08% on Friday, hitting $220.50. The stock had a trading volume of 4,275,058 shares. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $222.71. The company’s 50 day moving average price is $210.17 and its 200-day moving average price is $202.36. The company has a market cap of $59.15 billion, a P/E ratio of 19.92 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the firm earned $2.90 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts expect that FedEx Corporation will post $13.38 earnings per share for the current year.
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In other FedEx Corporation news, EVP Robert B. Carter sold 24,522 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at approximately $14,462,573.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.45% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of FDX. Dillon & Associates Inc. increased its stake in FedEx Corporation by 1.3% during the 1st quarter. Dillon & Associates Inc. now owns 7,142 shares of the shipping service provider’s stock worth $1,393,000 after buying an additional 90 shares in the last quarter. Deltec Asset Management LLC purchased a new stake in FedEx Corporation during the 1st quarter worth approximately $205,000. KAMES CAPITAL plc purchased a new stake in FedEx Corporation during the 1st quarter worth approximately $1,670,000. Callahan Advisors LLC increased its stake in FedEx Corporation by 5.1% during the 1st quarter. Callahan Advisors LLC now owns 38,868 shares of the shipping service provider’s stock worth $7,585,000 after buying an additional 1,901 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its stake in FedEx Corporation by 5.8% during the 1st quarter. Capital Advisors Inc. OK now owns 1,273 shares of the shipping service provider’s stock worth $248,000 after buying an additional 70 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.
About FedEx Corporation
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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