Citigroup Issues Positive Forecast for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX - Get Free Report) had its target price raised by analysts at Citigroup from $259.00 to $278.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the shipping service provider's stock. Citigroup's price target suggests a potential upside of 17.20% from the company's current price.

FDX has been the subject of several other research reports. Sanford C. Bernstein dropped their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Wells Fargo & Company upped their target price on FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and decreased their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Finally, Cowen reaffirmed a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $283.25.

FedEx Stock Down 0.6%

Shares of NYSE:FDX traded down $1.50 during trading on Wednesday, hitting $237.21. 1,175,021 shares of the company were exchanged, compared to its average volume of 1,854,056. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $223.89 and a two-hundred day moving average price of $240.64. FedEx has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The stock has a market cap of $56.84 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.23 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the prior year, the firm posted $5.41 earnings per share. As a group, research analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director owned 15,513 shares of the company's stock, valued at $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC boosted its stake in FedEx by 21.1% in the first quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock valued at $88,000 after acquiring an additional 63 shares during the last quarter. NBC Securities Inc. acquired a new stake in FedEx in the first quarter worth $147,000. Farther Finance Advisors LLC raised its holdings in FedEx by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after purchasing an additional 481 shares during the period. Allianz SE acquired a new stake in FedEx in the fourth quarter worth $18,342,000. Finally, Parvin Asset Management LLC bought a new stake in FedEx in the 4th quarter valued at $281,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Company Profile

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.

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