FedEx (NYSE:FDX) Downgraded to Hold Rating by StockNews.com

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

A number of other brokerages have also commented on FDX. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein downgraded shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research report on Tuesday. Bank of America lowered their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI cut their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Price Performance

FDX stock traded down $13.84 during trading on Tuesday, hitting $282.85. The company had a trading volume of 2,615,825 shares, compared to its average volume of 1,796,379. The business has a 50 day moving average of $278.90 and a 200 day moving average of $279.57. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.24 and a beta of 1.18. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.55 earnings per share. As a group, research analysts predict that FedEx will post 19.59 earnings per share for the current year.

Institutional Trading of FedEx

A number of institutional investors and hedge funds have recently modified their holdings of the company. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the third quarter worth approximately $47,000. 84.47% of the stock is currently owned by 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.