UBS Group Lowers FedEx (NYSE:FDX) Price Target to $311.00

FedEx (NYSE:FDX - Get Free Report) had its price objective cut by equities research analysts at UBS Group from $331.00 to $311.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the shipping service provider's stock. UBS Group's target price would suggest a potential upside of 42.72% from the company's previous close.

Several other research firms also recently commented on FDX. Piper Sandler downgraded FedEx to a "neutral" rating in a report on Monday, February 3rd. Bank of America reduced their price objective on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus decreased their target price on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Oppenheimer reissued a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and lowered their target price for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Two 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 stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $296.17.

FedEx Stock Down 1.1%

Shares of FDX traded down $2.35 during trading hours on Wednesday, hitting $217.91. The company had a trading volume of 2,339,089 shares, compared to its average volume of 1,829,398. The stock has a market capitalization of $52.21 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 1.36. The firm has a fifty day moving average price of $218.29 and a 200-day moving average price of $252.21. 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 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to analysts' expectations of $21.96 billion. During the same period last year, the firm posted $3.86 earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that FedEx will post 19.14 EPS for the current fiscal year.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value 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 approximately $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds and other institutional investors have recently bought and sold shares of FDX. Norges Bank purchased a new position in FedEx during the 4th quarter worth $807,352,000. Nuveen LLC purchased a new stake in FedEx during the 1st quarter worth approximately $314,650,000. Raymond James Financial Inc. acquired a new position in FedEx during the 4th quarter valued at approximately $234,028,000. Dodge & Cox raised its holdings in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares during the last quarter. Finally, ACR Alpine Capital Research LLC lifted its stake in shares of FedEx by 85.9% during the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after buying 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.