UBS analyst Thomas Wadewitz maintained a Buy rating on FedEx (FDX – Research Report) today and set a price target of $312.00. The company’s shares closed last Thursday at $226.23.
According to TipRanks.com, Wadewitz is a 4-star analyst with an average return of 6.1% and a 53.2% success rate. Wadewitz covers the Industrial Goods sector, focusing on stocks such as Expeditors International, Old Dominion Freight, and Norfolk Southern.
Currently, the analyst consensus on FedEx is a Strong Buy with an average price target of $298.79, a 30.1% upside from current levels. In a report issued on June 15, J.P. Morgan also maintained a Buy rating on the stock with a $279.00 price target.
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FedEx’s market cap is currently $60.6B and has a P/E ratio of 12.27.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FDX in relation to earlier this year. Last month, Frederick W. Smith, the Chairman of FDX bought 198,675 shares for a total of $16,937,044.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Founded in 1971, FedEx Corp. is a multinational delivery services company based in Tennessee. It provides transportation, e-commerce, and business services worldwide. The company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the FedEx brand.
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