Merrill Lynch Sticks to Their Buy Rating for FedEx

By Carrie Williams

In a report released yesterday, Ken Hoexter from Merrill Lynch maintained a Buy rating on FedEx (NYSE: FDX), with a price target of $315. The company’s shares closed yesterday at $271.19, close to its 52-week high of $271.39.

According to, Hoexter is a 4-star analyst with an average return of 7.8% and a 55.7% success rate. Hoexter covers the Services sector, focusing on stocks such as Navios Maritime Midstream, World Fuel Services Corp, and Schneider National Inc.

Currently, the analyst consensus on FedEx is Strong Buy and the average price target is $281.53, representing a 3.8% upside.

In a report issued on January 5, UBS also upgraded the stock to Buy.

Based on FedEx’s latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $16.31 billion and quarterly net profit of $774 million. In comparison, last year the company earned revenue of $14.93 billion and had a net profit of $700 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2017, Alan Graf, the EVP CHIEF FINANCIAL OFF of FDX sold 24,100 shares for a total of $6,010,996.

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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.