FedEx (NYSE:FDX) PT Lowered to $321.00

FedEx (NYSE:FDX) had its price objective reduced by equities researchers at Stifel Nicolaus from $327.00 to $321.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price target indicates a potential upside of 26.06% from the company’s previous close.

FDX has been the subject of a number of other research reports. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen reduced their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday. Stephens reiterated an “overweight” rating and issued a $325.00 price target on shares of FedEx in a report on Wednesday, June 26th. Finally, Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Stock Performance

NYSE:FDX opened at $254.64 on Friday. The company has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The firm’s 50 day moving average is $292.43 and its two-hundred day moving average is $275.04. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. 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 issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business posted $4.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that FedEx will post 20.82 EPS for the current year.

Insider Activity

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

Several large investors have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC grew its stake in shares of FedEx by 100.0% in the fourth 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 acquired a new position in FedEx during the 4th quarter valued at about $25,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter worth approximately $39,000. Security National Bank acquired a new position in shares of FedEx during the fourth quarter valued at approximately $44,000. Finally, Abound Wealth Management lifted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.