Bank of America Lowers FedEx (NYSE:FDX) Price Target to $270.00

FedEx (NYSE:FDX - Free Report) had its price objective lowered by Bank of America from $272.00 to $270.00 in a report published on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the shipping service provider's stock.

Several other analysts also recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. TD Cowen dropped their price target on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $297.63.

FedEx Stock Performance

NYSE:FDX traded down $2.00 during trading hours on Tuesday, reaching $229.11. 195,722 shares of the stock were exchanged, compared to its average volume of 1,867,594. The stock has a market capitalization of $54.90 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.11 and a beta of 1.36. The firm has a 50 day simple moving average of $223.23 and a 200-day simple moving average of $256.98. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx has a 52 week low of $194.29 and a 52 week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the firm earned $3.86 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx will post 19.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FDX. Transce3nd LLC acquired a new stake in FedEx during the 4th quarter worth approximately $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. City Holding Co. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Institutional investors own 84.47% of the company's stock.

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.