Bank of America Upgrades FedEx (NYSE:FDX) to “Buy”

FedEx (NYSE:FDX) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a $365.00 price target on the shipping service provider’s stock. Bank of America‘s price objective would suggest a potential upside of 18.12% from the stock’s current price.

Several other research firms have also commented on FDX. Vertical Research lowered their price objective on FedEx from $280.00 to $275.00 in a research report on Friday, September 19th. The Goldman Sachs Group lifted their target price on shares of FedEx from $301.00 to $317.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Evercore ISI raised their target price on FedEx from $275.00 to $288.00 in a research report on Friday, December 19th. Stephens increased their target price on shares of FedEx from $260.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Raymond James Financial boosted their price target on shares of FedEx from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $303.16.

FedEx Stock Performance

FDX stock opened at $309.00 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.23 and a current ratio of 1.27. The firm has a market cap of $72.65 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.53 and a beta of 1.35. The firm has a 50-day simple moving average of $277.91 and a two-hundred day simple moving average of $248.41. FedEx has a one year low of $194.29 and a one year high of $315.40.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 18th. The shipping service provider reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.80. FedEx had a return on equity of 16.63% and a net margin of 4.81%.The business had revenue of $23.47 billion during the quarter, compared to the consensus estimate of $22.79 billion. During the same quarter last year, the company earned $4.05 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.800-19.000 EPS. On average, equities analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Hedge Funds Weigh In On FedEx

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its holdings in shares of FedEx by 28,080.9% during the second quarter. Valeo Financial Advisors LLC now owns 3,743,557 shares of the shipping service provider’s stock worth $850,948,000 after buying an additional 3,730,273 shares during the last quarter. Vanguard Group Inc. increased its position in FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after purchasing an additional 2,741,723 shares during the period. Norges Bank purchased a new position in shares of FedEx during the 2nd quarter worth approximately $605,497,000. Boston Partners purchased a new stake in shares of FedEx in the third quarter valued at approximately $468,195,000. Finally, Dodge & Cox grew its holdings in FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.