UBS Group Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX - Get Free Report) had its price objective decreased by equities research analysts at UBS Group from $311.00 to $297.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the shipping service provider's stock. UBS Group's target price suggests a potential upside of 34.17% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. TD Cowen decreased their price target on FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Cfra Research raised shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Finally, Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $289.42.

FedEx Trading Down 3.6%

FDX stock traded down $8.15 during trading on Wednesday, reaching $221.36. 2,739,160 shares of the stock traded hands, compared to its average volume of 1,903,976. The business's 50 day moving average price is $219.11 and its 200-day moving average price is $243.86. FedEx has a 52-week low of $194.29 and a 52-week 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 has a market capitalization of $53.04 billion, a PE ratio of 13.89, 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 data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $21.86 billion. During the same period last year, the company posted $5.41 earnings per share. As a group, sell-side analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.87% of the company's stock.

Institutional Investors Weigh In On FedEx

Several hedge funds have recently modified their holdings of the stock. Transce3nd LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx in the fourth quarter worth $28,000. Runnymede Capital Advisors Inc. purchased a new position in shares of FedEx during the fourth quarter valued at $32,000. Accredited Wealth Management LLC acquired a new position in FedEx during the fourth quarter valued at $35,000. Finally, Abound Financial LLC purchased a new stake in FedEx in the 1st quarter worth about $38,000. 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.

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