FedEx (NYSE:FDX) PT Lowered to $311.00

FedEx (NYSE:FDX) had its target price dropped by analysts at UBS Group from $333.00 to $311.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. UBS Group’s target price points to a potential upside of 22.13% from the stock’s current price.

FDX has been the subject of several other research reports. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday. Stephens reiterated an “overweight” rating and set a $325.00 price objective on shares of FedEx in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group cut their target price on FedEx from $333.00 to $332.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Stock Performance

Shares of FDX stock opened at $254.64 on Friday. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The firm’s 50-day simple moving average is $292.43 and its two-hundred day simple moving average is $275.04. The firm has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx will post 20.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 over the last three months. Insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its position in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in FedEx in the fourth quarter valued at $25,000. Central Valley Advisors LLC purchased a new position in FedEx during the 2nd quarter valued at $39,000. Security National Bank bought a new position in FedEx in the 4th quarter worth $44,000. Finally, Abound Wealth Management lifted its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.