FedEx (NYSE:FDX) Cut to Hold at StockNews.com

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

A number of other research firms have also issued reports on FDX. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Argus raised their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday. Two 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 stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $313.38.

FedEx Stock Performance

NYSE FDX opened at $254.64 on Friday. The business has a 50 day moving average price of $292.43 and a 200 day moving average price of $275.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market capitalization of $62.66 billion, a P/E ratio of 14.78, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. FedEx’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that FedEx will post 20.82 EPS for the current fiscal year.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’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 transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. In the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

Institutional Trading of FedEx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fortis Group Advisors LLC grew its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in FedEx during the fourth quarter valued at approximately $25,000. Central Valley Advisors LLC bought a new position in FedEx during the 2nd quarter worth approximately $39,000. Security National Bank bought a new stake in shares of FedEx in the 4th quarter valued at approximately $44,000. Finally, Abound Wealth Management raised its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

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.