FedEx (NYSE:FDX) Downgraded by StockNews.com to “Hold”

FedEx (NYSE:FDX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other analysts have also recently issued reports on the stock. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. BMO Capital Markets reduced their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

NYSE FDX traded up $4.27 on Tuesday, reaching $275.45. The company’s stock had a trading volume of 947,601 shares, compared to its average volume of 1,811,861. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $67.30 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. FedEx has a 52 week low of $234.45 and a 52 week high of $313.84. The business has a 50-day moving average price of $276.19 and a 200 day moving average price of $275.22.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the business posted $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts expect that FedEx will post 19.59 EPS for the current year.

Hedge Funds Weigh In On FedEx

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

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.