FedEx Corporation FDX was a big mover last session, as the company saw its shares rise nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $128.81 to $149.38 in the past one-month time frame.
The upmove came after the company reported better-than-expected fiscal fourth-quarter 2020 (ended May 31, 2020) results.
The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for FedEx. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
FedEx has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
FedEx Corporation Price
FedEx Corporation price | FedEx Corporation Quote
Investors interested in the Transportation – Air Freight and Cargo industry may consider Atlas Air Worldwide Holdings AAWW which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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