Price Action To Observe: After Reaching 52-Week High, Is FedEx Corporation’s Near-Term Analysis Positive?

Price Action To Observe: After Reaching 52 Week High, Is FedEx Corporation's Near Term Analysis Positive?

The stock of FedEx Corporation (NYSE:FDX) hit a new 52-week high and has $203.75 target or 6.00% above today’s $192.22 share price. The 7 months bullish chart indicates low risk for the $51.45B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $203.75 price target is reached, the company will be worth $3.09 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.05 million shares traded hands. FedEx Corporation (NYSE:FDX) has risen 15.70% since April 28, 2016 and is uptrending. It has outperformed by 9.78% the S&P500.

Analysts await FedEx Corporation (NYSE:FDX) to report earnings on December, 20 after the close. They expect $2.91 earnings per share, up 12.79% or $0.33 from last year’s $2.58 per share. FDX’s profit will be $778.90M for 16.51 P/E if the $2.91 EPS becomes a reality. After $2.90 actual earnings per share 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 “Sell” rating given on Monday, September 7 by Zacks. The stock of FedEx Corporation (NYSE:FDX) earned “Overweight” rating by Barclays Capital on Wednesday, May 4. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, September 21. Nomura maintained FedEx Corporation (NYSE:FDX) on Thursday, March 17 with “Neutral” rating. The stock of FedEx Corporation (NYSE:FDX) has “Buy” rating given on Tuesday, October 6 by Stifel Nicolaus. Avondale maintained FedEx Corporation (NYSE:FDX) on Thursday, March 17 with “Market Outperform” rating. The stock of FedEx Corporation (NYSE:FDX) earned “Buy” rating by Citigroup on Thursday, March 17. The firm earned “Buy” rating on Wednesday, September 2 by Deutsche Bank. Morgan Stanley initiated FedEx Corporation (NYSE:FDX) rating on Tuesday, February 23. Morgan Stanley has “Equal-Weight” rating and $132 price target. Deutsche Bank initiated the stock with “Buy” rating in Wednesday, November 2 report.

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 2016 Q2. Its up 0.11, from 0.82 in 2016Q1. The ratio increased, 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.
Pittenger Anderson reported 14,244 shares or 0.24% of all its holdings. Fred Alger Mgmt holds 0% of its portfolio in FedEx Corporation (NYSE:FDX) for 5,395 shares. Flippin Bruce And Porter Inc has 15,649 shares for 0.71% of their US portfolio. Regal Invest Advisors Ltd Limited Liability Company last reported 0.08% of its portfolio in the stock. The Massachusetts-based Bollard Group Ltd Liability has invested 0.04% in FedEx Corporation (NYSE:FDX). Vanguard Grp last reported 0.16% of its portfolio in the stock. Parnassus Investments Ca last reported 0.09% of its portfolio in the stock. Zevenbergen Capital Investments Ltd Liability Co, a Washington-based fund reported 1,835 shares. Bristol John W Ny holds 1.92% of its portfolio in FedEx Corporation (NYSE:FDX) for 449,235 shares. The New Hampshire-based Charter has invested 0.04% in FedEx Corporation (NYSE:FDX). Clear Harbor Asset Ltd Liability has invested 0.07% of its portfolio in FedEx Corporation (NYSE:FDX). Cwm owns 381 shares or 0% of their US portfolio. Clearbridge Investments Lc last reported 0% of its portfolio in the stock. Woodmont Inv Counsel Limited Liability Company has invested 0.1% of its portfolio in FedEx Corporation (NYSE:FDX). Brinker Inc has 0.05% invested in the company for 3,636 shares.

Insider Transactions: Since July 22, 2016, the stock had 0 buys, and 9 selling transactions for $30.10 million net activity. $13.90 million worth of FedEx Corporation (NYSE:FDX) shares were sold by RICHARDS CHRISTINE P. Another trade for 5,000 shares valued at $822,570 was sold by CARTER ROBERT B. On Wednesday, September 28 Maier Henry J sold $920,874 worth of the stock or 5,213 shares. Shares for $5.76 million were sold by BRONCZEK DAVID J on Wednesday, September 28. 10,280 shares were sold by MERINO JOHN L, worth $1.87 million. $468,697 worth of shares were sold by EDWARDSON JOHN A on Friday, August 5. DUCKER MICHAEL L sold 5,000 shares worth $792,125.

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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