Wells Fargo & Company Increases FedEx (NYSE:FDX) Price Target to $320.00

FedEx (NYSE:FDX) had its price target increased by research analysts at Wells Fargo & Company from $305.00 to $320.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the shipping service provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.99% from the company’s previous close.

Several other analysts have also recently commented on FDX. Bernstein Bank boosted their price target 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. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Citigroup raised their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Robert W. Baird cut their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $320.92.

FedEx Stock Performance

NYSE FDX opened at $275.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. The business has a 50-day moving average price of $282.48 and a 200-day moving average price of $281.66. The firm has a market cap of $67.40 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping the consensus estimate of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.99 EPS. As a group, equities research analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Trading of FedEx

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in FedEx by 4.1% in the third quarter. Principal Financial Group Inc. now owns 256,870 shares of the shipping service provider’s stock valued at $70,300,000 after buying an additional 10,063 shares during the last quarter. DGS Capital Management LLC lifted its stake in FedEx by 10.7% in the 3rd quarter. DGS Capital Management LLC now owns 1,405 shares of the shipping service provider’s stock valued at $385,000 after buying an additional 136 shares in the last quarter. Franklin Resources Inc. boosted its holdings in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Synovus Financial Corp increased its stake in FedEx by 251.8% during the 3rd quarter. Synovus Financial Corp now owns 14,936 shares of the shipping service provider’s stock worth $4,087,000 after buying an additional 10,690 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of FedEx by 18.9% in the third quarter. Tidal Investments LLC now owns 18,870 shares of the shipping service provider’s stock valued at $5,164,000 after acquiring an additional 2,994 shares in the last quarter. Institutional investors and hedge funds 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.