FedEx (NYSE:FDX) Price Target Lowered to $300.00 at Stephens

FedEx (NYSE:FDX) had its target price lowered by equities research analysts at Stephens from $320.00 to $300.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. Stephens’ target price indicates a potential upside of 36.34% from the company’s current price.

A number of other equities research analysts have also issued reports on FDX. BNP Paribas upgraded shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. TD Cowen dropped their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday. Raymond James dropped their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup dropped their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $304.68.

FedEx Trading Down 10.6 %

FedEx stock opened at $220.04 on Friday. 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 50-day moving average price of $260.76 and a two-hundred day moving average price of $273.11. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a 52-week low of $217.49 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.86 earnings per share. Sell-side analysts expect that FedEx will post 19.14 earnings per share for the current year.

Insider Activity

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. bLong Financial LLC bought a new position in FedEx during the 4th quarter worth approximately $391,000. Virtu Financial LLC bought a new position in FedEx during the 3rd quarter worth approximately $3,405,000. Lodestone Wealth Management LLC bought a new position in FedEx during the 4th quarter worth approximately $461,000. Wedmont Private Capital boosted its stake in 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 last quarter. Finally, GFS Advisors LLC bought a new position in FedEx during the 4th quarter worth approximately $26,855,000. Institutional investors 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.