Stifel Nicolaus Cuts FedEx (NYSE:FDX) Price Target to $354.00

FedEx (NYSE:FDX) had its price objective reduced by stock analysts at Stifel Nicolaus from $364.00 to $354.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 43.90% from the stock’s current price.

A number of other research analysts also recently issued reports on FDX. Wells Fargo & Company cut their price objective on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. UBS Group increased their price objective on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Bank of America boosted their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Citigroup decreased their price target on FedEx from $347.00 to $317.00 and set a “buy” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

FedEx Stock Down 0.5 %

NYSE:FDX opened at $246.00 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company has a 50-day moving average of $260.76 and a 200 day moving average of $273.11. FedEx has a 1-year low of $224.52 and a 1-year high of $313.84. The firm has a market cap of $59.25 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the company earned $3.86 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Insider Activity

In other FedEx news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. United Bank acquired a new position in FedEx during the third quarter worth $615,000. Quest Partners LLC acquired a new position in shares of FedEx during the 3rd quarter valued at about $123,000. Pathstone Holdings LLC grew its holdings in shares of FedEx by 2.1% in the third quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after purchasing an additional 586 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FedEx during the third quarter worth about $2,611,000. Finally, PNC Financial Services Group Inc. boosted its holdings in FedEx by 0.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock valued at $21,045,000 after purchasing an additional 259 shares during the last quarter. 84.47% of the stock is 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.