FedEx (NYSE:FDX) Upgraded to “Buy” at Loop Capital

FedEx (NYSE:FDX) was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $365.00 target price on the shipping service provider’s stock, up from their prior target price of $288.00. Loop Capital’s price target would suggest a potential upside of 32.30% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Robert W. Baird cut their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. TD Cowen cut their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Susquehanna cut their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.76.

FedEx Price Performance

Shares of NYSE:FDX opened at $275.88 on Friday. FedEx has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $67.40 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The business’s fifty day moving average price is $282.48 and its two-hundred day moving average price is $281.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $3.99 earnings per share. On average, analysts forecast that FedEx will post 19.59 EPS for the current fiscal year.

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently modified their holdings of FDX. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth about $31,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Sachetta LLC increased its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the third quarter worth approximately $47,000. Institutional investors own 84.47% of the company’s stock.

About FedEx

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.