FedEx (NYSE:FDX) Stock Price Expected to Rise, Raymond James Analyst Says

FedEx (NYSE:FDX) had its price target boosted by equities researchers at Raymond James from $305.00 to $320.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the shipping service provider’s stock. Raymond James’ price target suggests a potential upside of 16.06% from the stock’s current price.

A number of other research firms have also commented on FDX. Stephens lowered their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Friday. Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, TD Cowen increased their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

FedEx Stock Down 0.1 %

Shares of FDX opened at $275.73 on Friday. The business’s fifty day moving average price is $282.71 and its two-hundred day moving average price is $282.10. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Evermay Wealth Management LLC increased its holdings 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 valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx during the 3rd quarter worth about $31,000. Abound Wealth Management grew its stake in FedEx by 175.9% in the 2nd 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. Sachetta LLC raised its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in 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.