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FedEx (FDX) Receives a Buy from J.P. Morgan

J.P. Morgan analyst Brian Ossenbeck maintained a Buy rating on FedEx (FDXResearch Report) today and set a price target of $284.00. The company’s shares closed last Thursday at $226.98.

According to TipRanks.com, Ossenbeck is a 4-star analyst with an average return of 9.7% and a 47.4% success rate. Ossenbeck covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, Knight Transportation, and Werner Enterprises.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for FedEx with a $289.18 average price target, which is a 26.6% upside from current levels. In a report issued on June 14, Stephens also maintained a Buy rating on the stock with a $285.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

FedEx’s market cap is currently $59.13B and has a P/E ratio of 11.97.

Based on the recent corporate insider activity of 16 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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