Barclays Boosts FedEx (NYSE:FDX) Price Target to $365.00

FedEx (NYSE:FDX) had its target price raised by Barclays from $350.00 to $365.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price target points to a potential upside of 24.78% from the company’s current price.

Other analysts have also issued research reports about the company. Susquehanna decreased their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Stifel Nicolaus dropped their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

FedEx stock traded up $5.24 during mid-day trading on Wednesday, reaching $292.51. The company had a trading volume of 433,204 shares, compared to its average volume of 1,803,152. The company has a market capitalization of $71.47 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock’s 50-day simple moving average is $275.05 and its 200-day simple moving average is $275.84. FedEx has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that FedEx will post 19.59 EPS for the current year.

Institutional Investors Weigh In On FedEx

Institutional investors have recently modified their holdings of the company. Capital International Investors lifted its position in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Vanguard Group Inc. raised its stake in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. 84.47% of the stock is 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.