FedEx (NYSE:FDX) Price Target Cut to $330.00

FedEx (NYSE:FDX) had its price objective reduced by equities research analysts at Raymond James from $335.00 to $330.00 in a report released on Friday, MarketBeat reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Raymond James’ price target indicates a potential upside of 29.59% from the company’s previous close.

A number of other research firms also recently weighed in on FDX. The Goldman Sachs Group lifted their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research note on Friday. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday. Two 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $313.38.

FedEx Trading Down 15.2 %

Shares of FedEx stock opened at $254.64 on Friday. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 1 year low of $224.69 and a 1 year high of $313.84. The company’s fifty day simple moving average is $292.43 and its 200-day simple moving average is $275.04. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted 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 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that FedEx will post 20.82 EPS for the current year.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC lifted its holdings in shares of FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the 4th quarter worth approximately $25,000. Central Valley Advisors LLC bought a new stake in FedEx in the 2nd quarter valued at $39,000. Security National Bank bought a new stake in shares of FedEx in the fourth quarter valued at about $44,000. Finally, Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. 84.47% of the stock is currently 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.