Credit Suisse Group Reaffirms “Positive” Rating for FedEx (FDX)
FedEx (NYSE:FDX)‘s stock had its “positive” rating reiterated by equities research analysts at Credit Suisse Group in a research report issued on Wednesday. They currently have a $283.00 price target on the shipping service provider’s stock, up from their prior price target of $278.00. Credit Suisse Group’s target price suggests a potential upside of 16.68% from the stock’s current price.
FDX has been the topic of several other research reports. Cowen reiterated an “outperform” rating and issued a $240.00 price objective on shares of FedEx in a report on Friday, October 13th. Citigroup restated a “buy” rating and set a $235.00 price target on shares of FedEx in a report on Thursday, September 14th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Bank of America restated a “buy” rating and set a $240.00 price target on shares of FedEx in a report on Wednesday, September 20th. Finally, Vetr downgraded FedEx to a “sell” rating and set a $204.84 price target on the stock. in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $242.41.
Shares of FedEx (FDX) opened at $242.54 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $64,867.61, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36. FedEx has a 1-year low of $182.89 and a 1-year high of $243.75.
In other news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,094 shares of company stock valued at $9,024,637. Insiders own 8.45% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Investment Centers of America Inc. grew its holdings in FedEx by 22.0% during the 1st quarter. Investment Centers of America Inc. now owns 3,215 shares of the shipping service provider’s stock valued at $629,000 after buying an additional 579 shares during the last quarter. AQR Capital Management LLC grew its holdings in FedEx by 7.1% during the 1st quarter. AQR Capital Management LLC now owns 326,414 shares of the shipping service provider’s stock valued at $63,700,000 after buying an additional 21,641 shares during the last quarter. Sterneck Capital Management LLC acquired a new stake in FedEx during the 1st quarter valued at $210,000. National Asset Management Inc. grew its holdings in FedEx by 16.0% during the 1st quarter. National Asset Management Inc. now owns 1,652 shares of the shipping service provider’s stock valued at $323,000 after buying an additional 228 shares during the last quarter. Finally, Paloma Partners Management Co grew its holdings in FedEx by 1,102.7% during the 1st quarter. Paloma Partners Management Co now owns 39,654 shares of the shipping service provider’s stock valued at $7,738,000 after buying an additional 36,357 shares during the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
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FedEx 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.
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