BNP Paribas Exane Lowers FedEx (NYSE:FDX) Price Target to $269.76

Key Points

• BNP Paribas Exane cut its price target on FedEx from $335.00 to $269.76 and kept a neutral rating on the stock, implying about 17.9% downside from the current share price.
• FedEx shares were down sharply in Tuesday trading, falling to $328.60, while the stock has traded between a 52-week low of $214.82 and a high of $413.87.
• Despite the price-target cut, FedEx recently posted better-than-expected earnings, with quarterly EPS of $5.25 versus the $4.12 estimate and revenue of $24 billion, up 8.3% year over year.

FedEx (NYSE:FDX - Get Free Report) had its price objective dropped by equities research analysts at BNP Paribas Exane from $335.00 to $269.76 in a report issued on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the shipping service provider's stock. BNP Paribas Exane's price objective indicates a potential downside of 17.91% from the stock's current price.

FDX has been the subject of several other research reports. JPMorgan Chase & Co. raised FedEx from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $432.00 to $460.00 in a research report on Wednesday, May 27th. Rothschild & Co Redburn increased their price target on shares of FedEx from $317.00 to $371.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of FedEx from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 12th. Morgan Stanley upped their price objective on shares of FedEx from $220.00 to $230.00 and gave the stock an "underweight" rating in a report on Friday, March 20th. Finally, Raymond James Financial lifted their target price on shares of FedEx from $305.00 to $410.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $383.72.

FedEx Price Performance

NYSE FDX traded down $83.15 on Tuesday, hitting $328.60. The stock had a trading volume of 2,398,089 shares, compared to its average volume of 1,615,251. The firm has a 50-day moving average of $376.08 and a 200-day moving average of $339.12. The company has a market capitalization of $78.41 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx has a 52-week low of $214.82 and a 52-week high of $413.87.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.51 EPS. Equities analysts expect that FedEx will post 19.63 EPS for the current year.

Insider Buying and Selling

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares in the company, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last three months. Corporate insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of FedEx in the first quarter worth about $25,000. Bayban purchased a new stake in shares of FedEx in the first quarter valued at approximately $26,000. EFG International AG purchased a new position in FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC acquired a new position in FedEx during the third quarter worth $28,000. Finally, Ameriflex Group Inc. grew its holdings in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock valued at $29,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx completed the spin-off of FedEx Freight, creating a separate publicly traded LTL carrier that could unlock value and let both businesses pursue more focused strategies. FedEx Completes Spin-Off of FedEx Freight
• Positive Sentiment: FedEx Freight management said the standalone company can invest more aggressively in growth and aims to reach a 15% operating margin by 2029, which supports the long-term value case for the restructuring. FedEx Freight CEO says the spinoff will help the company 'leapfrog' competitors
• Positive Sentiment: FedEx still has support from some analysts after the split, with Goldman Sachs maintaining a Buy rating even after trimming its target price. Goldman Sachs adjusts price target on FedEx
• Neutral Sentiment: FedEx Freight began trading independently under ticker FDXF, and coverage focused on how investors may value the new entity versus the remaining parent. FedEx Freight Stock Starts Trading June 1
• Neutral Sentiment: Several articles frame the move as a strategic transformation and discuss future earnings potential, but they do not point to an immediate operational change for FedEx itself. Why FedEx Stock Just Dropped
• Negative Sentiment: Analysts cut price targets after the spin-off, including HSBC lowering its target to $289.89 and BMO cutting to $340, signaling concerns that the parent stock may have less upside after the separation. HSBC adjusts price target on FedEx

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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