BMO Capital Markets Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target raised by analysts at BMO Capital Markets from $300.00 to $330.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market perform” rating on the shipping service provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 19.68% from the company’s previous close.

Other analysts have also recently issued reports about the company. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Robert W. Baird cut their target price 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. Stephens reissued an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.88.

FedEx Stock Down 0.1 %

Shares of NYSE:FDX opened at $275.73 on Friday. The company has a 50 day moving average of $282.71 and a 200-day moving average of $282.10. FedEx has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

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, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the business posted $3.99 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that FedEx will post 19.59 earnings per share for the current year.

Institutional Investors Weigh In On FedEx

Large investors have recently made changes to their positions in the stock. Evermay Wealth Management LLC lifted its stake in FedEx by 72.7% in the third 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 stake in shares of FedEx in the 3rd quarter valued at about $31,000. Abound Wealth Management lifted its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC increased its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx in the third quarter valued at approximately $47,000. 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.