FedEx (NYSE:FDX) Stock Rating Reaffirmed by Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a research report issued on Wednesday, Benzinga reports. They currently have a $325.00 target price on the shipping service provider’s stock. Stephens’ price objective suggests a potential upside of 9.99% from the company’s previous close.

Several other research firms have also recently weighed in on FDX. Evercore ISI decreased their target price on shares of FedEx from $351.00 to $318.00 and set an “outperform” rating for the company in a research note on Monday. Morgan Stanley lifted their target price on FedEx from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Wednesday. BNP Paribas reissued an “underperform” rating and set a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $296.00 to $359.00 in a report on Wednesday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Price Performance

Shares of FDX opened at $295.47 on Wednesday. The stock has a market capitalization of $72.71 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.93 and a beta of 1.16. FedEx has a twelve month low of $224.69 and a twelve month high of $296.86. The company has a 50 day moving average of $256.80 and a 200-day moving average of $256.00. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.86%. The business had revenue of $22.11 billion during the quarter, compared to analysts’ expectations of $22.04 billion. During the same period last year, the business earned $4.94 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that FedEx will post 20.26 EPS for the current fiscal year.

FedEx declared that its board has approved a share buyback program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the transaction, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now directly owns 6,294 shares in the company, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders have sold a total of 117,275 shares of company stock valued at $32,177,298 over the last ninety days. 8.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in shares of FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares during the period. Western Wealth Management LLC grew its holdings in FedEx by 10.0% during the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares in the last quarter. Trust Point Inc. bought a new stake in FedEx during the fourth quarter worth $282,000. Planned Solutions Inc. bought a new stake in FedEx during the fourth quarter worth $32,000. Finally, EFG Asset Management North America Corp. grew its holdings in FedEx by 173.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after buying an additional 4,831 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

About FedEx

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.