FedEx (NYSE:FDX) Stock Gets Price Target Boost from BNP Paribas Exane

Key Points

• BNP Paribas Exane raised its FedEx price target from $269.80 to $300 while maintaining a neutral rating, implying 4.32% upside from the prior close.
• Analyst sentiment remains broadly positive, with FedEx carrying a “Moderate Buy” consensus rating and an average price target of $354.72; however, several firms have recently lowered their targets.
• FedEx shares opened at $287.57 and were down 0.7%, while institutional investors held approximately 84.47% of the company’s stock.

FedEx (NYSE:FDX - Get Free Report) had its price target boosted by stock analysts at BNP Paribas Exane from $269.80 to $300.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a "neutral" rating on the shipping service provider's stock. BNP Paribas Exane's price objective would indicate a potential upside of 4.32% from the company's previous close.

FDX has been the topic of several other research reports. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a research note on Saturday, August 8th. Raymond James Financial set a $330.00 price target on FedEx in a research note on Friday, August 28th. Evercore set a $350.00 price objective on FedEx in a report on Wednesday, September 9th. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $460.00 to $400.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company decreased their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $354.72.

FedEx Stock Down 0.7%

NYSE FDX opened at $287.57 on Wednesday. FedEx has a 12 month low of $179.69 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The stock has a market cap of $68.06 billion, a PE ratio of 15.54, a P/E/G ratio of 1.54 and a beta of 1.32. The stock's 50 day moving average is $315.30 and its 200 day moving average is $339.79.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Research analysts predict that FedEx will post 17.55 EPS for the current fiscal year.

Institutional Trading of FedEx

A number of large investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. increased its holdings in FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock worth $296,000 after buying an additional 26 shares during the period. OneAscent Financial Services LLC increased its stake in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock worth $491,000 after acquiring an additional 29 shares during the period. Whipplewood Advisors LLC raised its holdings in shares of FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after purchasing an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in FedEx by 11.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock valued at $101,000 after purchasing an additional 30 shares during the period. Finally, Avior Wealth Management LLC grew its position in FedEx by 2.6% during the 2nd quarter. Avior Wealth Management LLC now owns 1,361 shares of the shipping service provider's stock worth $426,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company's services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.

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