FedEx (NYSE:FDX - Get Free Report) had its price target reduced by analysts at Barclays from $330.00 to $320.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the shipping service provider's stock. Barclays's price objective indicates a potential upside of 46.26% from the company's previous close.
Several other equities analysts also recently weighed in on FDX. Citigroup dropped their target price on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective for the company. Stifel Nicolaus cut their target price on shares of FedEx from $354.00 to $329.00 and set a "buy" rating on the stock in a research note on Tuesday. Wall Street Zen cut shares of FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets cut their price objective on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $290.00.
Get Our Latest Stock Analysis on FDX
FedEx Trading Down 4.7%
Shares of NYSE:FDX traded down $10.72 during mid-day trading on Wednesday, reaching $218.80. 1,940,098 shares of the company were exchanged, compared to its average volume of 1,868,424. FedEx has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The firm's 50-day simple moving average is $219.11 and its 200 day simple moving average is $243.86. The firm has a market cap of $52.42 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.15 and a beta of 1.35.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The company had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. Equities research analysts forecast that FedEx will post 19.14 EPS for the current year.
Insider Buying and Selling at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in FDX. Transce3nd LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx in the 4th quarter valued at $28,000. Runnymede Capital Advisors Inc. acquired a new stake in FedEx during the 4th quarter worth $32,000. Accredited Wealth Management LLC acquired a new stake in FedEx during the 4th quarter worth $35,000. Finally, Abound Financial LLC purchased a new position in FedEx during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
About FedEx
(
Get Free Report)
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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