FedEx (NYSE:FDX) Stock Rating Lowered by HSBC

FedEx (NYSE:FDX) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $300.00 price objective on the shipping service provider’s stock. HSBC’s price objective suggests a potential upside of 17.81% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. Argus upped their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley lowered shares of 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 report on Friday. Raymond James cut their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $296.00 to $359.00 in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.38.

FedEx Stock Down 15.2 %

FedEx stock opened at $254.64 on Friday. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company’s 50-day moving average price is $292.43 and its two-hundred day moving average price is $275.04. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm posted $4.55 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, analysts expect that FedEx will post 20.82 EPS for the current year.

Insider Buying and Selling at FedEx

In other news, EVP Brie Carere sold 1,958 shares of FedEx 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 completion of the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FedEx

Institutional investors and hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. raised its stake in shares of FedEx by 93.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 5,741 shares of the shipping service provider’s stock worth $1,721,000 after purchasing an additional 2,777 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at $10,018,000. Clearbridge Investments LLC lifted its stake in FedEx by 63.9% during the 2nd quarter. Clearbridge Investments LLC now owns 7,917 shares of the shipping service provider’s stock valued at $2,374,000 after acquiring an additional 3,087 shares in the last quarter. New Century Financial Group LLC boosted its holdings in FedEx by 148.7% during the 2nd quarter. New Century Financial Group LLC now owns 5,293 shares of the shipping service provider’s stock worth $1,587,000 after acquiring an additional 3,165 shares during the last quarter. Finally, Ariadne Wealth Management LP bought a new stake in shares of FedEx in the 2nd quarter worth $103,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Company Profile

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.