FedEx (NYSE:FDX) Earns "Buy" Rating from Barclays

Key Points

• Barclays reiterated its “buy” rating on FedEx, and the broader analyst view remains positive with 18 Buy ratings, 10 Holds, and 1 Sell. MarketBeat says the stock currently has a Moderate Buy consensus and an average price target of $398.04.
• FedEx shares were trading around $379, near their 52-week high of $404.03, giving the company a market cap of about $90.43 billion. The stock has also outperformed its longer-term averages, with the 200-day moving average at $323.04.
• The company’s latest quarterly results beat expectations, with $5.25 EPS versus $4.12 expected and revenue of $24 billion versus $23.44 billion forecast. Revenue rose 8.3% year over year, while analysts expect FedEx to earn $19.72 EPS for the full year.

FedEx (NYSE:FDX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Barclays in a report issued on Monday,MarketScreener reports.

FDX has been the topic of several other reports. Stephens reissued an "overweight" rating and issued a $435.00 price target on shares of FedEx in a report on Tuesday, April 14th. Raymond James Financial boosted their price objective on FedEx from $305.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of FedEx in a research note on Thursday, April 9th. Sanford C. Bernstein lifted their price target on FedEx from $457.00 to $470.00 and gave the stock an "outperform" rating in a report on Thursday, April 9th. Finally, Bank of America boosted their price target on FedEx from $431.00 to $440.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $398.04.

FedEx Trading Up 0.1%

Shares of FedEx stock opened at $379.00 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a fifty day simple moving average of $370.10 and a two-hundred day simple moving average of $323.04. FedEx has a 1 year low of $214.35 and a 1 year high of $404.03. The company has a market capitalization of $90.43 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.44 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.51 earnings per share. Research analysts forecast that FedEx will post 19.72 EPS for the current year.

Insider Buying and Selling

In other news, EVP Tracy B. Brightman sold 16,959 shares of the company's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,104 shares of company stock valued at $17,599,006 over the last 90 days. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in shares of FedEx by 2.3% during the third quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider's stock worth $48,831,000 after buying an additional 4,734 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FedEx by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider's stock valued at $8,243,000 after acquiring an additional 3,514 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider's stock valued at $9,437,000 after acquiring an additional 9,806 shares in the last quarter. National Pension Service boosted its holdings in shares of FedEx by 3.9% during the 3rd quarter. National Pension Service now owns 633,376 shares of the shipping service provider's stock valued at $149,356,000 after acquiring an additional 23,563 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in FedEx during the 3rd quarter worth $171,960,000. 84.47% of the stock is owned by 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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