Bank of America Issues Pessimistic Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price objective reduced by Bank of America from $295.00 to $272.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Bank of America‘s price objective would suggest a potential upside of 10.57% from the company’s previous close.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. TD Cowen raised their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Stifel Nicolaus lowered their target price on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

FedEx Stock Down 0.5 %

FDX stock opened at $246.00 on Friday. FedEx has a twelve month low of $222.79 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $59.25 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business has a 50 day moving average of $260.76 and a 200 day moving average of $273.11.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 EPS. On average, research analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Insider Transactions at FedEx

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

Institutional Trading of FedEx

Hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC raised its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the last quarter. Transce3nd LLC acquired a new stake in FedEx in the 4th quarter valued at about $26,000. Peoples Financial Services CORP. acquired a new stake in FedEx in the 4th quarter valued at about $28,000. City Holding Co. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx during the 4th quarter worth approximately $28,000. 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.