FedEx (NYSE:FDX) Price Target Raised to $235.00 at Wells Fargo & Company

FedEx (NYSE:FDX - Get Free Report) had its price target hoisted by Wells Fargo & Company from $220.00 to $235.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the shipping service provider's stock. Wells Fargo & Company's price target points to a potential upside of 6.34% from the stock's current price.

A number of other research analysts also recently commented on the company. Citigroup lowered their price objective on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. TD Cowen reduced their price objective on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday. BMO Capital Markets lowered their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research note on Monday, May 19th. Stifel Nicolaus dropped their price target on shares of FedEx from $354.00 to $329.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of FedEx from $323.00 to $280.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.17.

FedEx Stock Down 0.5%

NYSE FDX traded down $1.01 on Wednesday, reaching $220.99. The company had a trading volume of 4,708,661 shares, compared to its average volume of 1,848,012. The firm has a market capitalization of $52.95 billion, a PE ratio of 13.09, a P/E/G ratio of 1.13 and a beta of 1.35. The firm has a 50-day moving average of $219.48 and a 200-day moving average of $243.71. 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 has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the business posted $5.41 earnings per share. On average, equities research analysts anticipate that FedEx will post 19.14 EPS for the current fiscal year.

Institutional Investors Weigh In On FedEx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. IFP Advisors Inc grew its stake in shares of FedEx by 10.7% in the 4th quarter. IFP Advisors Inc now owns 6,773 shares of the shipping service provider's stock valued at $1,906,000 after buying an additional 652 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in FedEx in the fourth quarter worth approximately $227,000. Delta Financial Advisors LLC raised its position in FedEx by 0.9% during the fourth quarter. Delta Financial Advisors LLC now owns 7,235 shares of the shipping service provider's stock valued at $2,035,000 after acquiring an additional 65 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in FedEx during the fourth quarter valued at approximately $672,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

About FedEx

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.