UBS Group Boosts FedEx (NYSE:FDX) Price Target to $350.00

FedEx (NYSE:FDX) had its price objective raised by stock analysts at UBS Group from $311.00 to $350.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price objective points to a potential upside of 26.94% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Barclays upped their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $324.88.

FedEx Stock Down 0.1 %

FDX opened at $275.73 on Friday. The stock has a market capitalization of $67.37 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 1.18. The firm has a 50 day moving average price of $282.71 and a 200-day moving average price of $282.10. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84. 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 (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.99 EPS. Equities research analysts forecast that FedEx will post 19.59 earnings per share for the current year.

Hedge Funds Weigh In On FedEx

Several institutional investors have recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter valued at $31,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares in the last quarter. Sachetta LLC raised 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 valued at $49,000 after buying an additional 37 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the 3rd quarter valued at about $47,000. Hedge funds and other 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.