FedEx (NYSE:FDX) PT Lowered to $332.00

FedEx (NYSE:FDX) had its price target lowered by equities research analysts at The Goldman Sachs Group from $333.00 to $332.00 in a report released on Friday. The Goldman Sachs Group’s price objective would suggest a potential upside of 30.38% from the stock’s current price.

A number of other analysts also recently commented on FDX. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $215.00 to $200.00 in a research report on Friday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday. JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday. Finally, Robert W. Baird dropped their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $313.38.

FedEx Stock Down 15.2 %

FDX stock opened at $254.64 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is $292.43 and its 200 day simple moving average is $275.04. The stock has a market cap of $62.66 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the company earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx will post 20.82 EPS for the current year.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last three months. 8.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC boosted its holdings in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC raised its holdings in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by 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.