Stephens Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target dropped by research analysts at Stephens from $350.00 to $345.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Stephens’ target price would indicate a potential upside of 22.97% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and lifted their price target for the company from $288.00 to $365.00 in a report on Friday. The Goldman Sachs Group dropped their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Bernstein Bank lifted their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Finally, HSBC downgraded 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, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $325.64.

FedEx Trading Up 1.7 %

Shares of FedEx stock traded up $4.68 during trading on Friday, reaching $280.56. The company’s stock had a trading volume of 4,832,588 shares, compared to its average volume of 1,805,806. The company has a market cap of $68.55 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.17 and a beta of 1.18. The firm’s 50-day moving average is $282.48 and its two-hundred day moving average is $281.66. FedEx has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $3.99 earnings per share. On average, sell-side analysts anticipate that FedEx will post 19.59 earnings per share for the current year.

Institutional Investors Weigh In On FedEx

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in FedEx in the third quarter valued at approximately $3,405,000. Czech National Bank raised its position in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares during the period. Magnolia Capital Advisors LLC purchased a new position in shares of FedEx during the second quarter worth $9,226,000. Raymond James & Associates raised its holdings in shares of FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after buying an additional 31,241 shares during the period. Finally, Versor Investments LP purchased a new position in FedEx during the 3rd quarter valued at about $2,096,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

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.