Evercore ISI Lowers FedEx (NYSE:FDX) Price Target to $318.00

FedEx (NYSE:FDX) had its target price decreased by analysts at Evercore ISI from $335.00 to $318.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Evercore ISI’s price target indicates a potential upside of 24.88% from the stock’s previous close.

Several other analysts have also commented on the stock. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and increased their target price for the company from $296.00 to $359.00 in a research report on Wednesday, June 26th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a report on Friday. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $313.38.

FedEx Price Performance

FDX opened at $254.64 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The business’s fifty day simple moving average is $292.43 and its 200-day simple moving average is $275.04. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business posted $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the sale, the director now owns 14,745 shares of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last three months. 8.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fortis Group Advisors LLC increased its position in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in FedEx during the 4th quarter worth about $25,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth about $39,000. Security National Bank purchased a new position in shares of FedEx in the 4th quarter valued at about $44,000. Finally, Abound Wealth Management grew its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.