FedEx (NYSE:FDX) had its price objective raised by stock analysts at Argus from $270.00 to $305.00 in a report released on Wednesday, The Fly reports. The firm currently has a "buy" rating on the shipping service provider's stock. Argus' price objective indicates a potential upside of 16.61% from the stock's previous close.
A number of other research firms have also recently weighed in on FDX. Barclays raised FedEx from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $240.00 to $360.00 in a research report on Tuesday, December 1st. Stifel Nicolaus raised FedEx from a "hold" rating to a "buy" rating and boosted their target price for the company from $175.00 to $281.00 in a research report on Thursday, September 24th. Loop Capital boosted their target price on FedEx from $248.00 to $372.00 and gave the company a "buy" rating in a research report on Wednesday, September 16th. Sanford C. Bernstein reaffirmed a "buy" rating and issued a $308.00 price objective on shares of FedEx in a research report on Wednesday, December 2nd. Finally, Stephens upped their price objective on FedEx from $215.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of "Buy" and a consensus price target of $312.00.
FDX opened at $261.56 on Wednesday. The stock has a 50-day moving average price of $281.71 and a 200-day moving average price of $228.08. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.76 and a quick ratio of 1.71. The firm has a market cap of $69.33 billion, a PE ratio of 28.46, a P/E/G ratio of 1.33 and a beta of 1.34. FedEx has a 1 year low of $88.69 and a 1 year high of $305.66.
FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, December 16th. The shipping service provider reported $4.83 EPS for the quarter, topping the consensus estimate of $4.01 by $0.82. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $19.45 billion. FedEx had a return on equity of 18.65% and a net margin of 3.28%. FedEx's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company earned $2.51 EPS. As a group, sell-side analysts anticipate that FedEx will post 17.02 EPS for the current year.
In other FedEx news, Director Joshua Cooper Ramo sold 13,461 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $262.70, for a total transaction of $3,536,204.70. Following the transaction, the director now owns 8,353 shares of the company's stock, valued at approximately $2,194,333.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 4,970 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $263.08, for a total value of $1,307,507.60. Following the transaction, the director now directly owns 17,970 shares in the company, valued at approximately $4,727,547.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,791 shares of company stock worth $16,637,997. Insiders own 8.49% of the company's stock.
Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC purchased a new position in shares of FedEx in the 3rd quarter worth $292,000. Thrivent Financial for Lutherans raised its position in shares of FedEx by 17.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,908 shares of the shipping service provider's stock worth $3,247,000 after buying an additional 1,886 shares during the period. Engineers Gate Manager LP raised its position in shares of FedEx by 1,156.2% in the 3rd quarter. Engineers Gate Manager LP now owns 42,409 shares of the shipping service provider's stock worth $10,667,000 after buying an additional 39,033 shares during the period. AQR Capital Management LLC raised its position in shares of FedEx by 251.9% in the 3rd quarter. AQR Capital Management LLC now owns 135,625 shares of the shipping service provider's stock worth $34,112,000 after buying an additional 97,081 shares during the period. Finally, Pitcairn Co. raised its position in shares of FedEx by 1.8% in the 3rd quarter. Pitcairn Co. now owns 6,674 shares of the shipping service provider's stock worth $1,679,000 after buying an additional 116 shares during the period. 68.36% of the stock is currently owned by institutional investors.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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