FedEx (NYSE:FDX) Stock Rating Upgraded by Jefferies Financial Group

FedEx (NYSE:FDX) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $275.00 price target on the shipping service provider’s stock, down from their prior price target of $300.00. Jefferies Financial Group’s price objective would suggest a potential upside of 19.43% from the company’s current price.

FDX has been the subject of a number of other research reports. TD Cowen lowered their price target on shares of FedEx from $337.00 to $310.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday. UBS Group dropped their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research note on Friday. Finally, Truist Financial initiated coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.60.

FedEx Price Performance

Shares of NYSE:FDX opened at $230.25 on Monday. The company has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84. The firm’s 50 day simple moving average is $259.95 and its two-hundred day simple moving average is $272.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period in the previous year, the firm earned $3.86 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Research analysts expect that FedEx will post 19.14 EPS for the current fiscal year.

Insider Activity at FedEx

In related news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FDX. Regal Investment Advisors LLC grew its holdings in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 38 shares during the last quarter. Cetera Trust Company N.A grew its stake in FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock worth $2,230,000 after buying an additional 40 shares during the last quarter. Griffin Asset Management Inc. increased its position in FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares in the last quarter. Aviso Financial Inc. boosted its position in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after purchasing an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp raised its stake in shares of FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after buying an additional 41 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.