Stifel Nicolaus Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price objective lifted by Stifel Nicolaus from $321.00 to $368.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 33.46% from the stock’s current price.

FDX has been the subject of a number of other reports. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 target price on shares of FedEx in a report on Friday, September 20th. TD Cowen upped their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $324.88.

FedEx Trading Down 0.1 %

Shares of FDX stock opened at $275.73 on Friday. FedEx has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock has a fifty day moving average of $282.71 and a two-hundred day moving average of $282.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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

Hedge Funds Weigh In On FedEx

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% during 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 purchasing an additional 314,380 shares during the last quarter. World Investment Advisors LLC boosted its stake in FedEx by 2,163.7% during the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the period. Finally, Ceredex Value Advisors LLC grew its holdings in FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. 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.