Bank of America Increases FedEx (NYSE:FDX) Price Target to $348.00

FedEx (NYSE:FDX) had its price objective hoisted by stock analysts at Bank of America from $325.00 to $348.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. Bank of America‘s price target would indicate a potential upside of 26.21% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Raymond James reduced their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. BMO Capital Markets reduced their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Down 0.1 %

FedEx stock opened at $275.73 on Friday. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The business has a fifty day moving average of $282.71 and a two-hundred day moving average of $282.10. The firm has a market cap of $67.37 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.99 earnings per share. On average, analysts forecast that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Trading of FedEx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $31,000. Abound Wealth Management lifted 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. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the third quarter valued at about $47,000. Finally, Sachetta LLC increased its stake in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

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.