Stephens Lowers FedEx (NYSE:FDX) Price Target to $345.00

FedEx (NYSE:FDX) had its target price dropped by equities research analysts at Stephens from $350.00 to $345.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the shipping service provider’s stock. Stephens’ target price indicates a potential upside of 22.97% from the stock’s current price.

A number of other research firms also recently weighed in on FDX. Evercore ISI decreased their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Stifel Nicolaus lifted their target price on FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $325.64.

FedEx Stock Up 1.7 %

Shares of FDX stock traded up $4.68 during trading on Friday, hitting $280.56. 4,832,588 shares of the company were exchanged, compared to its average volume of 1,805,806. The firm has a market capitalization of $68.55 billion, a price-to-earnings ratio of 17.31, 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 quick ratio of 1.24 and a current ratio of 1.28. The business’s 50-day simple moving average is $282.48 and its 200 day simple moving average is $281.66. FedEx has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.99 EPS. As a group, analysts forecast that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Trading of FedEx

Several hedge funds have recently bought and sold shares of FDX. International Assets Investment Management LLC grew its position in FedEx by 473.8% during the third 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 period. Ameriprise Financial Inc. lifted its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Franklin Resources Inc. boosted its position in FedEx by 8.6% during the third 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 period. World Investment Advisors LLC boosted its holdings in FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after buying an additional 183,940 shares during the period. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the period. 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.