JPMorgan Chase & Co. Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX - Get Free Report) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $260.00 to $290.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the shipping service provider's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 29.74% from the company's current price.

A number of other brokerages have also commented on FDX. Raymond James Financial decreased their price objective on FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Barclays dropped their price objective on FedEx from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday. Susquehanna upped their target price on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $288.38.

FedEx Stock Down 2.6%

Shares of NYSE:FDX traded down $5.98 during trading on Wednesday, reaching $223.53. 3,811,295 shares of the stock were exchanged, compared to its average volume of 1,874,889. FedEx has a 1-year low of $194.30 and a 1-year high of $313.84. The stock has a fifty day moving average of $219.11 and a two-hundred day moving average of $243.86. 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 has a market cap of $53.56 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same period last year, the firm earned $5.41 earnings per share. Research analysts anticipate that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Transactions at FedEx

In related 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 transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.87% of the company's stock.

Institutional Trading of FedEx

A number of large investors have recently modified their holdings of FDX. Brighton Jones LLC raised its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after buying an additional 207 shares in the last quarter. IFP Advisors Inc raised its position in FedEx by 10.7% during the fourth quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider's stock valued at $1,906,000 after purchasing an additional 652 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in FedEx during the fourth quarter worth about $227,000. Delta Financial Advisors LLC boosted its holdings in shares of FedEx by 0.9% in the 4th quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider's stock worth $2,035,000 after purchasing an additional 65 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of FedEx during the 4th quarter valued at about $672,000. 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.

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