FedEx (NYSE:FDX) Downgraded by Evercore ISI to In-Line

Key Points

• FedEx has been downgraded from an "outperform" to an "in-line" rating by Evercore ISI, with a new price target of $243.00.
• The stock has a consensus rating of "Moderate Buy" and an average price target of $276.29, suggesting a potential upside from current levels.
• Insider activity has increased, with multiple directors selling portions of their shares, indicating a 18.88% and 31.86% decrease in their ownership respectively.

FedEx (NYSE:FDX - Get Free Report) was downgraded by equities research analysts at Evercore ISI from an "outperform" rating to an "in-line" rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $243.00 price objective on the shipping service provider's stock, down from their previous price objective of $249.00. Evercore ISI's price objective indicates a potential upside of 4.70% from the stock's current price.

A number of other analysts have also issued reports on FDX. BNP Paribas Exane raised FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price on the stock in a research report on Thursday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $290.00 to $285.00 and set an "overweight" rating on the stock in a report on Friday, September 5th. Cowen reiterated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Sanford C. Bernstein cut their price objective on shares of FedEx from $249.00 to $247.00 and set a "market perform" rating on the stock in a report on Tuesday. Finally, Stephens reaffirmed an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $275.85.

FedEx Stock Performance

NYSE:FDX traded up $5.60 during midday trading on Tuesday, hitting $232.10. The company's stock had a trading volume of 8,378,809 shares, compared to its average volume of 1,900,524. The firm has a market cap of $54.76 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.31 and a beta of 1.20. The firm's 50 day moving average is $228.84 and its 200-day moving average is $226.62. FedEx has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.71 by $0.12. FedEx had a net margin of 4.65% and a return on equity of 16.43%. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.74 billion. During the same period in the previous year, the firm posted $3.60 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. Equities analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 in the last three months. Corporate insiders own 0.53% of the company's stock.

Institutional Trading of FedEx

A number of hedge funds have recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its stake in shares of FedEx by 28,080.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,743,557 shares of the shipping service provider's stock valued at $850,948,000 after purchasing an additional 3,730,273 shares in the last quarter. Norges Bank acquired a new position in FedEx during the 2nd quarter valued at approximately $605,497,000. Nuveen LLC acquired a new stake in FedEx in the first quarter worth $314,650,000. AQR Capital Management LLC lifted its stake in FedEx by 750.9% in the second quarter. AQR Capital Management LLC now owns 1,015,627 shares of the shipping service provider's stock valued at $230,862,000 after buying an additional 896,271 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its holdings in shares of FedEx by 85.9% in the 1st quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after acquiring an additional 732,266 shares during the period. Hedge funds and other institutional investors 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.