FedEx (NYSE:FDX) Upgraded at Wall Street Zen

FedEx (NYSE:FDX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently commented on FDX. Truist Financial cut their price target on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and cut their price target for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Bank of America cut their price target on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Raymond James cut their price target on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus target price of $297.00.

FedEx Stock Performance

NYSE FDX traded down $1.96 on Thursday, reaching $216.85. The stock had a trading volume of 1,480,515 shares, compared to its average volume of 1,822,176. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84. The business's 50-day moving average price is $220.59 and its 200 day moving average price is $254.62. The stock has a market cap of $51.96 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the firm posted $3.86 EPS. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Norges Bank purchased a new stake in FedEx during the 4th quarter worth approximately $807,352,000. Nuveen LLC purchased a new stake in FedEx during the 1st quarter worth approximately $314,650,000. Raymond James Financial Inc. purchased a new stake in FedEx during the 4th quarter worth approximately $234,028,000. Dodge & Cox increased its holdings in FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its holdings in FedEx by 85.9% during the 1st quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after purchasing an additional 732,266 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.