Zacks Investment Research Lowers FedEx (FDX) to Hold

FedEx (NYSE:FDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Shares of FedEx have outperformed its industry in 2017. Ushering in further good news, FedEx also outperformed in the second quarter of fiscal 2018 driven by increased package volumes during the current holiday season. Growth was witnessed across all the major segments of the company. In fact, the strong growth of e-commerce is a huge positive for the company. The company's efforts to reward its shareholders through dividend payments and share buybacks are also encouraging. However, the company's operations have been disrupted by the June 2017 cyberattack. Moreover, high costs are hurting the bottom line. Significant investments at the company's Ground unit are pushing up costs. FedEx is also a highly leveraged company.”

A number of other equities analysts also recently commented on FDX. ValuEngine upgraded FedEx from a “hold” rating to a “buy” rating in a report on Sunday. Loop Capital raised their price objective on FedEx to $318.00 in a report on Thursday. Wells Fargo & Co set a $275.00 price objective on FedEx and gave the stock a “buy” rating in a report on Wednesday, December 20th. Oppenheimer restated a “buy” rating and issued a $229.00 price objective on shares of FedEx in a report on Wednesday, September 20th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $221.00 target price (up from $216.00) on shares of FedEx in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. FedEx has a consensus rating of “Buy” and an average target price of $261.99.

FedEx (NYSE FDX) traded up $3.22 during trading on Thursday, hitting $260.82. The stock had a trading volume of 2,149,500 shares, compared to its average volume of 2,305,350. The stock has a market cap of $70,770.00, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.36. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx has a 52 week low of $182.89 and a 52 week high of $261.57.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.80 EPS. analysts expect that FedEx will post 12.92 EPS for the current fiscal year.

In other FedEx news, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Insiders have sold a total of 65,655 shares of company stock worth $16,334,753 over the last 90 days. 8.45% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Salem Investment Counselors Inc. grew its position in shares of FedEx by 2.8% in the 2nd 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 in the last quarter. Krilogy Financial LLC grew its position in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx in the 3rd quarter worth approximately $132,000. Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $136,000. Finally, Carroll Financial Associates Inc. grew its position in shares of FedEx by 61.1% in the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.

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About FedEx

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 (NYSE:FDX)

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