FedEx (NYSE:FDX) Stock Rating Reaffirmed by Cowen

FedEx (NYSE:FDX)‘s stock had its “outperform” rating reiterated by research analysts at Cowen in a research report issued to clients and investors on Monday, December 18th, Marketbeat Ratings reports. They presently have a $280.00 price target on the shipping service provider’s stock, up from their previous price target of $240.00. Cowen’s price target suggests a potential upside of 3.25% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Co increased their price objective on shares of FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Loop Capital reiterated a “buy” rating and issued a $260.00 price objective (up previously from $250.00) on shares of FedEx in a research note on Wednesday, September 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $221.00 price objective (up previously from $216.00) on shares of FedEx in a research note on Wednesday, September 20th. Citigroup increased their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, UBS Group cut shares of FedEx from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $235.00 to $233.00 in a research note on Friday, September 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $269.04.

Shares of FedEx (FDX) traded up $3.18 during midday trading on Monday, hitting $271.19. 1,648,200 shares of the stock were exchanged, compared to its average volume of 1,960,000. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The stock has a market cap of $72,650.00, a P/E ratio of 24.93, a PEG ratio of 1.60 and a beta of 1.36. FedEx has a 12-month low of $182.89 and a 12-month high of $271.39.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the prior year, the business earned $2.80 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. equities research analysts forecast that FedEx will post 13.03 EPS for the current fiscal year.

In related news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at $4,267,442. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the completion of the transaction, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,671 shares of company stock worth $17,137,160. Company insiders own 8.45% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new position in shares of FedEx in the first quarter valued at $100,000. Salem Investment Counselors Inc. grew its holdings in shares of FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares in the last quarter. Alexandria Capital LLC grew its holdings in shares of FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in FedEx during the third quarter worth $132,000. 75.66% of the stock is owned by hedge funds and other institutional investors.

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FedEx Company Profile

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.

Analyst Recommendations for FedEx (NYSE:FDX)

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