FedEx (NYSE:FDX) was upgraded by Deutsche Bank from a "hold" rating to a "buy" rating in a research note issued to investors on Monday, Briefing.com reports. The firm currently has a $318.00 price objective on the shipping service provider's stock. Deutsche Bank's price target suggests a potential upside of 27.11% from the company's current price.
Other equities analysts have also issued reports about the stock. Robert W. Baird raised their price target on shares of FedEx from $232.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Berenberg Bank set a $280.00 price objective on shares of FedEx and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Stifel Nicolaus raised shares of FedEx from a "hold" rating to a "buy" rating and raised their price objective for the stock from $175.00 to $281.00 in a research note on Thursday. Evercore ISI started coverage on shares of FedEx in a research note on Wednesday, September 9th. They set an "outperform" rating and a $300.00 price objective on the stock. Finally, Barclays raised their price objective on shares of FedEx from $205.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 16th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. FedEx presently has an average rating of "Buy" and a consensus target price of $271.60.
FDX stock opened at $250.17 on Monday. The firm has a market cap of $65.69 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 1.87 and a beta of 1.48. The firm has a 50-day simple moving average of $219.35 and a two-hundred day simple moving average of $154.13. FedEx has a one year low of $88.69 and a one year high of $256.18. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.58.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $2.69 by $2.18. The firm had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.56 billion. FedEx had a net margin of 1.86% and a return on equity of 13.49%. FedEx's revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $3.05 EPS. As a group, equities analysts predict that FedEx will post 10.55 earnings per share for the current fiscal year.
In other news, CEO Henry J. Maier sold 8,750 shares of the firm's stock in a transaction dated Thursday, July 16th. The stock was sold at an average price of $166.48, for a total value of $1,456,700.00. Following the transaction, the chief executive officer now directly owns 49,417 shares in the company, valued at approximately $8,226,942.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John L. Merino sold 24,981 shares of the firm's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $246.16, for a total value of $6,149,322.96. The disclosure for this sale can be found here. Insiders have sold 79,486 shares of company stock worth $15,850,747 over the last quarter. 8.49% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Selective Wealth Management Inc. purchased a new position in shares of FedEx in the 2nd quarter worth about $28,000. Hoover Financial Advisors Inc. purchased a new stake in shares of FedEx during the 2nd quarter valued at about $28,000. Balentine LLC purchased a new stake in shares of FedEx during the 1st quarter valued at about $29,000. RMR Wealth Builders purchased a new stake in shares of FedEx during the 2nd quarter valued at about $48,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of FedEx during the 1st quarter valued at about $49,000. Institutional investors own 71.65% of the company's stock.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
Featured Article: Fundamental Analysis and Choosing Stocks
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Gun Stocks to Buy During the Coronavirus Pandemic
Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.
Some of that may be historical. Firearms sales tend to increase during an election year. But of course, this has not started out as a normal election year.
In March, the nation was gripped by pictures of long lines outside gun stores in several U.S. states. The website Ammo.com reported that bullet sales increased by 222% in the period from February 23 through March 15 as opposed to the first three weeks in February.
And according to the Federal Bureau of Investigation’s (FBI) National Instant Criminal Background Check System (NICS), there was a 73% year-over-year increase in background checks in February.
“The world has never seen anything like this and people want to make sure they're prepared for whatever lies ahead, whether that be food shortages, government shutdown, or worse," a spokesperson for Ammo.com said in an emailed statement. "When everything around you is uncertain, having a supply of ammunition can make our customers feel safer."
Given the likelihood of increased firearms sales, we’ve created this presentation that highlights seven gun stocks that you should consider for your portfolio.
View the "7 Gun Stocks to Buy During the Coronavirus Pandemic".