FedEx (NYSE:FDX) PT Lowered to $350.00

FedEx (NYSE:FDX) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $359.00 to $350.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 37.45% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Bank of America lowered their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday. Raymond James dropped their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price target (up previously from $303.00) on shares of FedEx in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.38.

FedEx Price Performance

Shares of NYSE:FDX opened at $254.64 on Friday. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. The business has a 50 day moving average price of $292.43 and a 200 day moving average price of $275.04. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the business. Fortis Group Advisors LLC increased its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of FedEx during the fourth quarter worth $25,000. Central Valley Advisors LLC bought a new stake in shares of FedEx during the second quarter worth $39,000. Security National Bank acquired a new stake in shares of FedEx during the fourth quarter worth $44,000. Finally, Abound Wealth Management lifted its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds 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.