Today’s Market Runner: Does FedEx Corporation Have More Gas After Making All-Time High?

Today's Market Runner: Does FedEx Corporation Have More Gas After Making All Time High?

The stock of FedEx Corporation (NYSE:FDX) reached all time high today, Nov, 30 and still has $209.60 target or 9.00% above today’s $192.29 share price. This indicates more upside for the $51.18 billion company. This technical setup was reported by Barchart.com. If the $209.60 PT is reached, the company will be worth $4.61 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 266,136 shares traded hands. FedEx Corporation (NYSE:FDX) has risen 13.58% since April 27, 2016 and is uptrending. It has outperformed by 8.36% the S&P500.

Analysts await FedEx Corporation (NYSE:FDX) to report earnings on December, 20 after the close. They expect $2.91 EPS, up 12.79% or $0.33 from last year’s $2.58 per share. FDX’s profit will be $774.53M for 16.52 P/E if the $2.91 EPS becomes a reality. After $2.90 actual EPS reported by FedEx Corporation for the previous quarter, Wall Street now forecasts 0.34% EPS growth.

FedEx Corporation (NYSE:FDX) Ratings Coverage

Out of 24 analysts covering FedEx (NYSE:FDX), 10 rate it a “Buy”, 1 “Sell”, while 13 “Hold”. This means 42% are positive. FedEx has been the topic of 44 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, January 20 by Standpoint Research. Oppenheimer maintained the stock with “Outperform” rating in Thursday, September 17 report. The firm earned “Buy” rating on Tuesday, September 22 by Argus Research. The stock of FedEx Corporation (NYSE:FDX) earned “Market Perform” rating by Wood on Wednesday, September 2. The stock of FedEx Corporation (NYSE:FDX) has “Neutral” rating given on Thursday, September 17 by Buckingham Research. The rating was downgraded by Wolfe Research on Monday, November 30 to “Peer Perform”. On Friday, June 3 the stock rating was maintained by UBS with “Buy”. The stock of FedEx Corporation (NYSE:FDX) earned “Hold” rating by Zacks on Monday, August 24. The rating was maintained by Nomura with “Neutral” on Thursday, March 17. The firm earned “Hold” rating on Thursday, September 3 by TheStreet.

According to Zacks Investment Research, “FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery and global logistics, supply chain management and electronic commerce solutions.”

Insitutional Activity: The institutional sentiment increased to 0.93 in Q2 2016. Its up 0.11, from 0.82 in 2016Q1. The ratio improved, as 66 funds sold all FedEx Corporation shares owned while 373 reduced positions. 75 funds bought stakes while 285 increased positions. They now own 192.17 million shares or 6.59% less from 205.72 million shares in 2016Q1.
Lee Danner Bass last reported 55,693 shares in the company. Robeco Institutional Asset Mgmt Bv holds 16,798 shares or 0.02% of its portfolio. Cubist Systematic Strategies owns 50,050 shares or 0.44% of their US portfolio. Fin Mgmt Inc last reported 38 shares in the company. Buckingham Mngmt has invested 0.16% of its portfolio in FedEx Corporation (NYSE:FDX). London Of Virginia holds 0.37% of its portfolio in FedEx Corporation (NYSE:FDX) for 313,908 shares. Greenleaf Trust, a Michigan-based fund reported 1,450 shares. Berkshire Asset Management Ltd Com Pa holds 0.08% or 3,642 shares in its portfolio. Mercer Capital Advisers reported 1,535 shares or 0.19% of all its holdings. Atlantic Tru Grp Inc Limited Com reported 29,857 shares or 0.03% of all its holdings. Alpha Windward Llc reported 1,102 shares or 0.12% of all its holdings. Bridgecreek Mngmt Lc last reported 1.56% of its portfolio in the stock. Liberty Mutual Group Inc Asset accumulated 17,472 shares or 0.1% of the stock. Natl Mutual Ins Federation Of Agricultural Cooperatives last reported 16,000 shares in the company. Howard Mgmt last reported 77,127 shares in the company.

Insider Transactions: Since July 22, 2016, the stock had 0 buys, and 9 insider sales for $30.10 million net activity. CARTER ROBERT B sold 24,784 shares worth $4.39 million. $5.76M worth of shares were sold by BRONCZEK DAVID J on Wednesday, September 28. DUCKER MICHAEL L sold $792,125 worth of FedEx Corporation (NYSE:FDX) on Friday, July 22. MERINO JOHN L had sold 10,280 shares worth $1.87 million. RICHARDS CHRISTINE P also sold $13.90 million worth of FedEx Corporation (NYSE:FDX) on Monday, October 10. Another trade for 2,882 shares valued at $468,697 was sold by EDWARDSON JOHN A. $1.18M worth of FedEx Corporation (NYSE:FDX) shares were sold by GRAF ALAN B JR.

Another recent and important FedEx Corporation (NYSE:FDX) news was published by Schaeffersresearch.com which published an article titled: “Will FedEx Corporation (FDX) Deliver Another November Rally?” on November 01, 2016.

FDX Company Profile

FedEx Corporation (FedEx), incorporated on October 2, 1997, 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 divisions include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services. The FedEx Express segment offers a range of the United States domestic and international shipping services for delivery of packages and freight. TNT Express segment collects, transports and delivers documents, parcels and freight on a day-definite or time-definite basis. The FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services. The FedEx Freight segment offers less-than-truckload (LTL) freight services. The FedEx Services segment provides the Company’s other companies with sales, marketing, information technology, communications, customer service and other back-office support.

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