FedEx (NYSE:FDX) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx (NYSE:FDX) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $337.00 price target on the shipping service provider’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 32.78% from the stock’s previous close.

Several other brokerages also recently issued reports on FDX. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a report on Thursday. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. TD Cowen boosted their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stephens decreased their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $318.58.

FedEx Stock Performance

FDX opened at $253.80 on Friday. The stock’s 50 day simple moving average is $266.55 and its 200 day simple moving average is $276.18. The stock has a market cap of $61.13 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.11 and a beta of 1.23. FedEx has a 1-year low of $242.92 and a 1-year high of $313.84. 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 announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the business posted $3.99 earnings per share. As a group, equities analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy B. Lane purchased 333 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the acquisition, the director now owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of FedEx during the fourth quarter worth $807,352,000. Raymond James Financial Inc. purchased a new stake in FedEx during the 4th quarter worth $234,028,000. Dodge & Cox boosted its position in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock valued at $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx during the fourth quarter valued at about $145,733,000. Finally, ACR Alpine Capital Research LLC increased its position in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after acquiring an additional 329,170 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.