FedEx Corporation [NYSE: FDX] price surged by 11.72 percent to reach at $16.44. Recently, FedEx applauded and welcomed the agreement of the three Northern American countries the U.S.-Mexico-Canada Agreement (USMCA/T-MEC/CUSMA). This enhancement is in the best of interests of all the three nations which will boost their economy.
The COO of FedEx, Raj Subramaniam said that this agreement will enhance the trade between three countries by modernizing the trade network and breaking all the barriers. This will create many new jobs and help FedEx customers reach new markets. This new USMCA agreement has changed the 26-year old North American Free Trade Agreement (NAFTA) which brings great opportunities for FedEx and its customers.
A sum of 17932803 shares traded at recent session while its average daily volume was at 2.64M shares. FedEx Corporation shares reached a high of $163.65 and dropped to a low of $155.76 until finishing in the latest session at $156.66.
The one-year FDX stock forecast points to a potential downside of -7.86. The average equity rating for FDX stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on FedEx Corporation [FDX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FDX shares is $145.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FDX stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for FedEx Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $153 to $179. The new note on the price target was released on July 01, 2020, representing the official price target for FedEx Corporation stock. Previously, the target price had yet another raise from $158 to $181, while UBS kept a Buy rating on FDX stock. On July 01, 2020, analysts increased their price target for FDX shares from 140 to 162.
The Average True Range (ATR) for FedEx Corporation is set at 6.61, with the Price to Sales ratio for FDX stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 2.17, with the Price to Cash per share for the same quarter was set at 6.46.
FDX Stock Performance Analysis:
FedEx Corporation [FDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.97. With this latest performance, FDX shares gained by 16.74% in over the last four-week period, additionally plugging by 3.60% over the last 6 months – not to mention a drop of -1.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FDX stock in for the last two-week period is set at 69.56, with the RSI for the last a single of trading hit 74.40, and the three-weeks RSI is set at 65.33 for FedEx Corporation [FDX]. The present Moving Average for the last 50 days of trading for this stock 128.09, while it was recorded at 139.52 for the last single week of trading, and 140.86 for the last 200 days.
Insight into FedEx Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and FedEx Corporation [FDX] shares currently have an operating margin of +6.87 and a Gross Margin at +21.27. FedEx Corporation’s Net Margin is presently recorded at +0.77.
Return on Total Capital for FDX is now 13.42, given the latest momentum, and Return on Invested Capital for the company is 1.56. Return on Equity for this stock inclined to 2.90, with Return on Assets sitting at 1.01. When it comes to the capital structure of this company, FedEx Corporation [FDX] has a Total Debt to Total Equity ratio set at 99.01. Additionally, FDX Total Debt to Total Capital is recorded at 49.75, with Total Debt to Total Assets ending up at 32.32. Long-Term Debt to Equity for the company is recorded at 93.58, with the Long-Term Debt to Total Capital now at 47.02.
Reflecting on the efficiency of the workforce at the company, FedEx Corporation [FDX] managed to generate an average of $2,255 per employee. Receivables Turnover for the company is 7.92 with a Total Asset Turnover recorded at a value of 1.31.FedEx Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
FDX Stock EPS
With the latest financial reports released by the company, FedEx Corporation posted 3.05/share EPS, while the average EPS was predicted by analysts to be reported at 3.15/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FDX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for FedEx Corporation go to 3.90%.
FedEx Corporation [FDX] Insider Position Details
There are presently around $27,480 million, or 75.70% of FDX stock, in the hands of institutional investors. The top three institutional holders of FDX stocks are: DODGE & COX with ownership of 26,924,012, which is approximately 3.588% of the company’s market cap and around 5.70% of the total institutional ownership; VANGUARD GROUP INC, holding 20,733,611 shares of the stock with an approximate value of $2.91 billion in FDX stocks shares; and BLACKROCK INC., currently with $2.44 billion in FDX stock with ownership of nearly 0.901% of the company’s market capitalization.
539 institutional holders increased their position in FedEx Corporation [NYSE:FDX] by around 17,376,425 shares. Additionally, 663 investors decreased positions by around 12,985,583 shares, while 152 investors held positions by with 165,612,951 shares. The mentioned changes placed institutional holdings at 195,974,959 shares, according to the latest SEC report filing. FDX stock had 97 new institutional investments in for a total of 1,925,979 shares, while 178 institutional investors sold positions of 2,839,089 shares during the same period.