Raymond James Lowers FedEx (NYSE:FDX) Price Target to $290.00

FedEx (NYSE:FDX) had its target price cut by equities research analysts at Raymond James from $320.00 to $290.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the shipping service provider’s stock. Raymond James’ target price would suggest a potential upside of 17.89% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. UBS Group increased their price objective on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 20th. Piper Sandler cut FedEx to a “neutral” rating in a report on Monday, February 3rd. Stifel Nicolaus dropped their price target on FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Finally, Truist Financial started coverage on FedEx in a research report on Thursday, March 13th. They set a “buy” rating and a $305.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.28.

FedEx Trading Down 0.5 %

Shares of FedEx stock opened at $246.00 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx has a twelve month low of $222.79 and a twelve month high of $313.84. The firm has a market capitalization of $59.25 billion, a PE ratio of 15.68, a P/E/G ratio of 1.11 and a beta of 1.23. The firm’s 50-day moving average price is $260.76 and its 200 day moving average price is $273.11.

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

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction 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 transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Institutional Trading of FedEx

A number of large investors have recently made changes to their positions in the company. Citizens Financial Group Inc. RI increased its position in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Regal Investment Advisors LLC grew its stake in shares of FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 38 shares in the last quarter. Cetera Trust Company N.A increased its holdings in FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the last quarter. Griffin Asset Management Inc. raised its stake in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares in the last quarter. Finally, Aviso Financial Inc. lifted its holdings in FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock worth $957,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other 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.