FedEx's (FDX) Buy Rating Reiterated at Citigroup

Key Points

• Citigroup reiterated a Buy rating on FedEx and set a $443 price target, implying about 14.9% upside from the prior close.
• FedEx is seeing broadly positive analyst sentiment overall, with a consensus Moderate Buy and a consensus target price of $399.65. Eighteen analysts rate the stock Buy, versus ten Hold and one Sell.
• The company recently reported better-than-expected quarterly results, posting EPS of $5.25 versus estimates of $4.12 and revenue of $24 billion, up 8.3% year over year.

FedEx (NYSE:FDX - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Citigroup in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $443.00 price target on the shipping service provider's stock. Citigroup's target price points to a potential upside of 14.92% from the stock's previous close.

Several other research analysts have also issued reports on FDX. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $479.00 price target on shares of FedEx in a research report on Friday, February 13th. Rothschild & Co Redburn upped their target price on FedEx from $317.00 to $371.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. HSBC upgraded FedEx from a "reduce" rating to a "hold" rating and set a $360.00 price objective for the company in a report on Friday, March 20th. Wolfe Research cut their price objective on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Finally, Stephens reaffirmed an "overweight" rating and issued a $435.00 price objective on shares of FedEx in a research note on Tuesday, April 14th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $399.65.

FedEx Stock Down 0.3%

FDX stock opened at $385.50 on Thursday. FedEx has a 52 week low of $214.35 and a 52 week high of $404.03. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $91.98 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The firm's 50-day moving average is $369.79 and its two-hundred day moving average is $331.43.

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

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were 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 $3,704,022. This trade represents a 36.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the business's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last 90 days. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On FedEx

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after buying an additional 2,741,723 shares during the period. Dodge & Cox lifted its stake in shares of FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. State Street Corp boosted its stake in shares of FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock valued at $2,763,824,000 after purchasing an additional 382,848 shares during the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock valued at $1,482,785,000 after acquiring an additional 318,293 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider's stock worth $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

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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