FedEx (NYSE:FDX) Price Target Lowered to $236.00 at Credit Suisse Group

FedEx (NYSE:FDXGet Rating) had its price target dropped by equities researchers at Credit Suisse Group from $246.00 to $236.00 in a research note issued to investors on Friday, The Fly reports. Credit Suisse Group’s price objective would suggest a potential upside of 52.71% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets dropped their price target on FedEx from $270.00 to $215.00 and set a “market perform” rating on the stock in a research note on Friday, September 16th. Wells Fargo & Company dropped their price target on FedEx from $269.00 to $199.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Bank Of America (Bofa) cut FedEx from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $275.00 to $186.00 in a research note on Friday, September 16th. Stephens lifted their price target on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, June 24th. Finally, StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.91.

FedEx Price Performance

NYSE:FDX opened at $154.54 on Friday. The business’s 50-day moving average price is $216.15 and its 200 day moving average price is $216.44. The firm has a market cap of $40.17 billion, a P/E ratio of 10.81, a PEG ratio of 0.73 and a beta of 1.21. FedEx has a 52-week low of $150.34 and a 52-week high of $266.79. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81.

FedEx (NYSE:FDXGet Rating) last released its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. FedEx’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.37 earnings per share. As a group, sell-side analysts predict that FedEx will post 16.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the sale, the executive vice president now directly owns 16,366 shares in the company, valued at approximately $3,745,359.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other FedEx news, Director Vincenzo J. Vena purchased 900 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was bought at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the completion of the acquisition, the director now directly owns 1,325 shares in the company, valued at $304,803. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brie Carere sold 11,235 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $228.85, for a total value of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at $3,745,359.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FDX. Activest Wealth Management increased its position in shares of FedEx by 121.6% during the second quarter. Activest Wealth Management now owns 113 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 62 shares during the period. Holloway Wealth Management LLC bought a new stake in shares of FedEx during the first quarter valued at approximately $29,000. Coston McIsaac & Partners bought a new stake in shares of FedEx during the second quarter valued at approximately $30,000. American National Bank increased its position in shares of FedEx by 206.7% during the second quarter. American National Bank now owns 138 shares of the shipping service provider’s stock valued at $31,000 after purchasing an additional 93 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. bought a new stake in shares of FedEx during the first quarter valued at approximately $35,000. 71.62% of the stock is currently owned by institutional investors and hedge funds.

FedEx Company Profile

(Get Rating)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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