FedEx (NYSE:FDX) Rating Lowered to Hold at StockNews.com

FedEx (NYSE:FDX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other equities research analysts have also weighed in on the company. Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. TD Cowen decreased their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Finally, Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.74.

FedEx Stock Down 0.1 %

FDX opened at $260.50 on Friday. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a market cap of $64.10 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.04 and a beta of 1.17. The stock’s 50 day moving average price is $284.62 and its 200 day moving average price is $276.05.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, research analysts predict that FedEx will post 19.66 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated 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 approximately $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,914 shares of company stock worth $3,978,338 over the last three months. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Institutional investors have recently added to or reduced their stakes in the company. Fortis Group Advisors LLC grew its position in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the fourth quarter valued at approximately $25,000. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its holdings in FedEx by 29.1% during the second 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 owned by institutional investors and hedge funds.

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.