TD Cowen Cuts FedEx (NYSE:FDX) Price Target to $269.00

FedEx (NYSE:FDX - Get Free Report) had its price objective decreased by research analysts at TD Cowen from $310.00 to $269.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the shipping service provider's stock. TD Cowen's price target would indicate a potential upside of 21.73% from the company's previous close.

FDX has been the subject of a number of other research reports. UBS Group cut their price objective on FedEx from $331.00 to $311.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Stephens restated an "overweight" rating and set a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and decreased their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Stifel Nicolaus lowered their target price on FedEx from $354.00 to $329.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $285.17.

FedEx Price Performance

Shares of NYSE:FDX traded down $1.01 during trading on Wednesday, hitting $220.99. 4,708,661 shares of the company's stock were exchanged, compared to its average volume of 1,848,012. The business's 50-day simple moving average is $219.48 and its 200 day simple moving average is $243.71. The company has a market cap of $52.95 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.13 and a beta of 1.35. FedEx has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.19.

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 (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The firm had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the business posted $5.41 earnings per share. As a group, equities analysts predict that FedEx will post 19.14 EPS for the current year.

Hedge Funds Weigh In On FedEx

Institutional investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new position in FedEx in the first quarter worth approximately $147,000. Farther Finance Advisors LLC grew its position in shares of FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after buying an additional 481 shares in the last quarter. Allianz SE purchased a new position in shares of FedEx during the fourth quarter valued at $18,342,000. Parvin Asset Management LLC bought a new stake in shares of FedEx in the fourth quarter valued at about $281,000. Finally, Landscape Capital Management L.L.C. lifted its stake in FedEx by 87.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock worth $3,734,000 after acquiring an additional 6,180 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.