FedEx Corp. (FDX) Rating Lowered to Hold at Stifel Nicolaus
FedEx Corp. (NYSE:FDX) was downgraded by equities researchers at Stifel Nicolaus to a “hold” rating in a research report issued to clients and investors on Tuesday. They currently have a $186.00 price objective on the shipping service provider’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 0.09% from the stock’s current price.
Other research analysts have also issued research reports about the company. Vetr upgraded FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price target on the stock in a report on Tuesday, August 2nd. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Cowen and Company reiterated a “market perform” rating and issued a $110.00 price target on shares of FedEx Corp. in a report on Sunday, July 31st. Barclays PLC reiterated a “top pick” rating on shares of FedEx Corp. in a report on Wednesday, September 21st. Finally, Oppenheimer Holdings Inc. increased their price target on FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, September 21st. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $177.34.
FedEx Corp. (NYSE:FDX) opened at 186.16 on Tuesday. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $186.53. The company’s 50 day moving average price is $174.41 and its 200-day moving average price is $165.10. The firm has a market capitalization of $49.47 billion, a price-to-earnings ratio of 27.84 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.09. The business had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. On average, equities analysts anticipate that FedEx Corp. will post $12.16 earnings per share for the current fiscal year.
In related news, VP John L. Merino sold 10,280 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the completion of the transaction, the vice president now directly owns 29,722 shares in the company, valued at $5,401,081.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christine P. Richards sold 80,080 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $173.59, for a total value of $13,901,087.20. Following the transaction, the executive vice president now owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Columbus Circle Investors boosted its position in FedEx Corp. by 7.1% in the second quarter. Columbus Circle Investors now owns 371,150 shares of the shipping service provider’s stock valued at $56,333,000 after buying an additional 24,449 shares during the last quarter. Grandfield & Dodd LLC raised its stake in shares of FedEx Corp. by 5.0% in the second quarter. Grandfield & Dodd LLC now owns 78,590 shares of the shipping service provider’s stock valued at $11,929,000 after buying an additional 3,733 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of FedEx Corp. by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock valued at $17,594,000 after buying an additional 1,230 shares during the period. Zacks Investment Management raised its stake in shares of FedEx Corp. by 185.0% in the second quarter. Zacks Investment Management now owns 75,473 shares of the shipping service provider’s stock valued at $11,455,000 after buying an additional 48,993 shares during the period. Finally, Bartlett & Co. LLC raised its stake in shares of FedEx Corp. by 0.4% in the second quarter. Bartlett & Co. LLC now owns 154,011 shares of the shipping service provider’s stock valued at $23,376,000 after buying an additional 612 shares during the period. Institutional investors and hedge funds own 74.63% of the company’s stock.
FedEx Corp. 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.
Receive News & Stock Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related stocks with our FREE daily email newsletter.