FedEx (NYSE:FDX) Earns “Overweight” Rating from Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a note issued to investors on Tuesday,Benzinga reports. They currently have a $300.00 target price on the shipping service provider’s stock. Stephens’ target price points to a potential upside of 38.28% from the company’s previous close.

Several other analysts also recently weighed in on FDX. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. BMO Capital Markets reduced their price objective on FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a research report on Monday. Jefferies Financial Group raised FedEx from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Piper Sandler lowered FedEx to a “neutral” rating in a research report on Monday, February 3rd. Finally, TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $297.00.

FedEx Stock Down 1.9%

Shares of FedEx stock opened at $216.95 on Tuesday. The stock has a market capitalization of $51.98 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.11 and a beta of 1.36. FedEx has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $221.71 and its 200-day simple moving average is $255.57.

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

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. bLong Financial LLC bought a new stake in FedEx in the fourth quarter worth about $391,000. Lodestone Wealth Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $461,000. GFS Advisors LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $26,855,000. Gries Financial LLC lifted its stake in FedEx by 16.6% in the fourth quarter. Gries Financial LLC now owns 8,780 shares of the shipping service provider’s stock valued at $2,470,000 after purchasing an additional 1,252 shares during the last quarter. Finally, KBC Group NV grew its holdings in FedEx by 197.4% during the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after purchasing an additional 226,608 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.