Wells Fargo Sticks to Its Buy Rating for FedEx (FDX)

Wells Fargo analyst Christian Wetherbee maintained a Buy rating on FedEx yesterday and set a price target of $450.00.

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According to TipRanks, Wetherbee is a 5-star analyst with an average return of 14.3% and a 62.73% success rate. Wetherbee covers the Industrials sector, focusing on stocks such as FedEx, XPO, and Old Dominion Freight.

In addition to Wells Fargo, FedEx also received a Buy from Bank of America Securities’s Ken Hoexter in a report issued yesterday. However, on April 9, J.P. Morgan maintained a Hold rating on FedEx (NYSE: FDX).

Based on FedEx’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $24 billion and a net profit of $1.06 billion. In comparison, last year the company earned a revenue of $22.16 billion and had a net profit of $909 million

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FDX in relation to earlier this year. Earlier this month, Gina F. Adams, the EVP GENL COUNSEL of FDX sold 20,450.00 shares for a total of $7,493,796.25.