FedEx (NYSE:FDX) Upgraded at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded FedEx from “neutral” to “overweight” and set a $460 price target, implying about 15% upside from the current share price.
• FedEx’s latest earnings beat expectations, with $5.25 EPS versus the $4.12 consensus and $24 billion in revenue, up 8.3% year over year.
• Analyst sentiment remains broadly positive: the stock has 19 Buy ratings, 9 Hold ratings, and 1 Sell rating, with a consensus target price of $400.69.

FedEx (NYSE:FDX - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued to investors on Wednesday. The firm presently has a $460.00 target price on the shipping service provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 15.03% from the stock's current price.

Other research analysts also recently issued reports about the company. BMO Capital Markets boosted their target price on FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $479.00 price objective on shares of FedEx in a research report on Friday, February 13th. Argus boosted their target price on shares of FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Rothschild & Co Redburn upped their price target on shares of FedEx from $317.00 to $371.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on FedEx from $430.00 to $450.00 and gave the company an "overweight" rating in a report on Friday, March 20th. Nineteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $400.69.

FedEx Trading Up 1.4%

NYSE FDX opened at $399.90 on Wednesday. FedEx has a 52 week low of $214.82 and a 52 week high of $404.03. The company has a 50 day moving average price of $372.83 and a 200 day moving average price of $335.39. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a market cap of $95.42 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during 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%. FedEx's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $4.51 earnings per share. As a group, sell-side analysts forecast that FedEx will post 19.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 5,795 shares of the company's stock in a transaction dated 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 owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares of the company's stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,104 shares of company stock worth $17,599,006 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of FedEx

A number of hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 period. Savant Capital LLC raised its position in FedEx by 32.5% during the third quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider's stock worth $9,437,000 after acquiring an additional 9,806 shares during the period. National Pension Service raised its position in FedEx by 3.9% during the third quarter. National Pension Service now owns 633,376 shares of the shipping service provider's stock worth $149,356,000 after acquiring an additional 23,563 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in FedEx during the third quarter valued at $171,960,000. Finally, Applied Finance Capital Management LLC purchased a new position in FedEx during the third quarter valued at $727,000. 84.47% of the stock is 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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