FedEx Corporation’s (FDX) Buy Rating Reiterated at Oppenheimer Holdings, Inc.

FedEx Corporation (NYSE:FDX)‘s stock had its “buy” rating reissued by Oppenheimer Holdings, Inc. in a research report issued on Wednesday. They presently have a $229.00 target price on the shipping service provider’s stock. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 6.02% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target for the company in a report on Friday, June 2nd. UBS AG reaffirmed a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Deutsche Bank AG set a $235.00 price target on shares of FedEx Corporation and gave the stock a “buy” rating in a report on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $240.00 price target (up previously from $230.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $224.60.

Shares of FedEx Corporation (NYSE:FDX) traded up 1.735% during midday trading on Wednesday, reaching $219.747. 3,019,883 shares of the company’s stock were exchanged. The firm has a market cap of $58.95 billion, a PE ratio of 19.851 and a beta of 1.28. FedEx Corporation has a one year low of $168.00 and a one year high of $222.71. The stock’s 50-day moving average is $210.17 and its 200 day moving average is $202.36.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 EPS. Analysts anticipate that FedEx Corporation will post $13.38 EPS for the current year.

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In other news, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total value of $3,706,215.00. Following the sale, the chief executive officer now owns 29,148 shares in the company, valued at $6,150,228. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kim Jabal sold 5,918 shares of FedEx Corporation stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the completion of the sale, the director now owns 3,610 shares in the company, valued at approximately $779,940.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock worth $16,447,426. Company insiders own 8.45% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its position in FedEx Corporation by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in FedEx Corporation by 163.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after acquiring an additional 300 shares during the last quarter. Cribstone Capital Management LLC boosted its position in FedEx Corporation by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares during the last quarter. Krilogy Financial LLC boosted its position in FedEx Corporation by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the last quarter. Finally, FNY Managed Accounts LLC acquired a new position in FedEx Corporation during the first quarter worth about $100,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

FedEx Corporation Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx Corporation (NYSE:FDX)

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