FedEx (FDX) Receives a Buy from Goldman Sachs

Goldman Sachs analyst Jordan Alliger maintained a Buy rating on FedEx (FDXResearch Report) today and set a price target of $291.00. The company’s shares closed last Monday at $222.85.

According to, Alliger is a 3-star analyst with an average return of 6.9% and a 49.3% success rate. Alliger covers the Industrial Goods sector, focusing on stocks such as Knight Transportation, Union Pacific, and United Parcel.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for FedEx with a $290.45 average price target, implying a 31.4% upside from current levels. In a report issued on May 26, Berenberg Bank also maintained a Buy rating on the stock with a $330.00 price target.

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Based on FedEx’s latest earnings release for the quarter ending February 28, the company reported a quarterly revenue of $23.64 billion and net profit of $1.11 billion. In comparison, last year the company earned revenue of $21.51 billion and had a net profit of $892 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FDX in relation to earlier this year. Last month, Frederick W. Smith, the Chairman of FDX bought 198,675 shares for a total of $16,937,044.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 1971, FedEx Corp. is a multinational delivery services company based in Tennessee. It provides transportation, e-commerce, and business services worldwide. The company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the FedEx brand.

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