UBS Group Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its target price raised by equities researchers at UBS Group from $311.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s target price would suggest a potential upside of 26.94% from the company’s previous close.

A number of other research firms have also weighed in on FDX. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets lowered their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Stephens reissued an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

Shares of FDX opened at $275.73 on Friday. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $282.71 and its 200-day simple moving average is $282.10. The company has a market cap of $67.37 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.99 earnings per share. As a group, analysts expect that FedEx will post 19.59 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the 3rd quarter valued at approximately $31,000. Abound Wealth Management boosted its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in FedEx during the 3rd quarter worth approximately $47,000. Finally, Sachetta LLC increased its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.