Citizens Jmp Initiates Coverage on FedEx (NYSE:FDX)

Key Points

• Citizens JMP initiated coverage on FedEx with a market outperform rating and a $375 price target, implying about 19.7% upside from the prior close.
• FedEx’s latest quarterly results beat expectations, with $6.31 EPS versus $5.91 expected and $25.01 billion in revenue versus $24.04 billion estimated; revenue rose 12.5% year over year.
• Analyst sentiment remains generally positive, with FedEx holding a Moderate Buy consensus and a $350.54 average target, though recent price targets have varied widely across firms.

Research analysts at Citizens Jmp started coverage on shares of FedEx (NYSE:FDX - Get Free Report) in a research report issued on Wednesday,Benzinga reports. The brokerage set a "market outperform" rating and a $375.00 price target on the shipping service provider's stock. Citizens Jmp's price objective would indicate a potential upside of 19.73% from the stock's previous close.

FDX has been the topic of several other reports. Sanford C. Bernstein set a $397.00 price target on FedEx in a research report on Wednesday, June 24th. Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price objective on the stock. Zacks Research lowered FedEx from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 18th. BNP Paribas Exane dropped their target price on FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a report on Tuesday, June 2nd. Finally, TD Cowen cut their target price on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Stock Performance

NYSE:FDX opened at $313.22 on Wednesday. The company has a market cap of $74.74 billion, a P/E ratio of 16.92 and a beta of 1.29. FedEx has a twelve month low of $172.88 and a twelve month high of $345.36. The company's 50-day moving average price is $345.84 and its 200-day moving average price is $349.19. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion during the quarter, compared to analysts' expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. FedEx's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.07 EPS. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company's stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its stake in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC boosted its position in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after purchasing an additional 4,548 shares during the period. Sivia Capital Partners LLC acquired a new stake in FedEx in the 2nd quarter valued at approximately $586,000. Quantbot Technologies LP purchased a new stake in FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new stake in FedEx in the second quarter valued at approximately $456,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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