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Positive Report for FedEx (FDX) from J.P. Morgan

Tipranks - Tipranks - Thu May 28, 1:48AM CDT

FedEx received a Buy rating and a $460.00 price target from J.P. Morgan analyst Brian Ossenbeck today.

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Ossenbeck covers the Industrials sector, focusing on stocks such as FedEx, Canadian National Railway, and XPO. According to TipRanks, Ossenbeck has an average return of 7.3% and a 51.36% success rate on recommended stocks.

In addition to J.P. Morgan, FedEx also received a Buy from Wells Fargo’s Christian Wetherbee in a report issued yesterday. However, on May 11, Morgan Stanley maintained a Sell rating on FedEx (NYSE: FDX).

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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 47 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. Last month, Susan Schwab, a Director at FDX sold 5,795.00 shares for a total of $2,138,355.00.

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