FedEx's (FDX) Buy Rating Reiterated at Truist Financial

FedEx (NYSE:FDX - Get Free Report)'s stock had its "buy" rating reaffirmed by Truist Financial in a research report issued on Wednesday,Benzinga reports. They presently have a $275.00 price objective on the shipping service provider's stock. Truist Financial's target price indicates a potential upside of 24.13% from the stock's previous close.

A number of other research firms have also weighed in on FDX. Barclays reduced their price objective on FedEx from $330.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday. Loop Capital downgraded FedEx from a "hold" rating to a "sell" rating and reduced their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, UBS Group reduced their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $285.75.

FedEx Trading Down 3.5%

FDX traded down $7.97 during midday trading on Wednesday, reaching $221.54. 6,357,483 shares of the company's stock traded hands, compared to its average volume of 1,884,608. FedEx has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The firm has a fifty day moving average of $219.11 and a two-hundred day moving average of $243.86. The stock has a market capitalization of $53.08 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.46% and a return on equity of 16.00%. The company had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the previous year, the company earned $5.41 earnings per share. On average, equities analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDX. Transce3nd LLC purchased a new stake in FedEx in the 4th quarter worth $26,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx in the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx during the 4th quarter valued at approximately $32,000. Accredited Wealth Management LLC bought a new stake in FedEx in the fourth quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx during the fourth quarter valued at $39,000. 84.47% of the stock is currently owned by institutional investors.

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.

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