Loop Capital Downgrades FedEx (NYSE:FDX) to Hold

FedEx (NYSE:FDX) was downgraded by investment analysts at Loop Capital from a “buy” rating to a “hold” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They currently have a $283.00 price target on the shipping service provider’s stock, down from their previous price target of $365.00. Loop Capital’s price objective would suggest a potential upside of 6.81% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Stephens cut their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Citigroup increased their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Raymond James increased their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Bank of America increased their target price on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $321.87.

FedEx Stock Down 1.6 %

Shares of NYSE:FDX opened at $264.96 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $63.82 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a 50 day simple moving average of $279.62 and a 200 day simple moving average of $282.22.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.99 EPS. As a group, research analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of FedEx during the 3rd quarter worth about $3,405,000. Czech National Bank lifted its holdings in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares during the period. Wedmont Private Capital lifted its holdings in shares of FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Persium Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth about $530,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of FedEx by 137.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 227,965 shares of the shipping service provider’s stock worth $64,133,000 after acquiring an additional 132,036 shares during the period. 84.47% of the stock is owned by institutional investors.

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.