FedEx (NYSE:FDX) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised its FedEx price target from $359 to $373 and maintained a “buy” rating, implying 28.9% upside from the prior close.
• Analyst sentiment remains positive overall: FedEx has a consensus “Moderate Buy” rating and an average price target of $354.64, based on 29 analyst ratings.
• FedEx shares closed at $289.37 after rising 0.1%. The company reported quarterly earnings of $5.88 per share on $23.26 billion in revenue, while institutional investors own 84.47% of its stock.

FedEx (NYSE:FDX - Get Free Report) had its price objective lifted by Citigroup from $359.00 to $373.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the shipping service provider's stock. Citigroup's price target would indicate a potential upside of 28.90% from the company's previous close.

FDX has been the subject of a number of other reports. Sanford C. Bernstein set a $397.00 price objective on FedEx in a research note on Wednesday, June 24th. TD Cowen decreased their price target on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of FedEx in a report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price target on the stock. Stephens raised shares of FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, UBS Group decreased their target price on shares of FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $354.64.

FedEx Stock Up 0.1%

FDX stock traded up $0.34 during trading on Wednesday, hitting $289.37. 594,265 shares of the company's stock traded hands, compared to its average volume of 2,051,571. The firm has a market capitalization of $68.48 billion, a P/E ratio of 15.61, a PEG ratio of 1.54 and a beta of 1.28. FedEx has a 1 year low of $179.69 and a 1 year high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $312.61 and a two-hundred day simple moving average of $337.54.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion during the quarter. Sell-side analysts anticipate that FedEx will post 17.53 EPS for the current year.

Institutional Trading of FedEx

Large investors have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new stake in shares of FedEx during the first quarter worth $25,000. Bayban purchased a new position in FedEx in the 1st quarter worth $26,000. Solstein Capital LLC acquired a new stake in FedEx during the 2nd quarter worth about $27,000. C M Bidwell & Associates Ltd. acquired a new stake in FedEx during the 2nd quarter worth about $31,000. Finally, Cedar Mountain Advisors LLC grew its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock valued at $33,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

About FedEx

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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