TD Cowen Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price target dropped by research analysts at TD Cowen from $337.00 to $310.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s target price would indicate a potential upside of 26.02% from the stock’s previous close.

A number of other brokerages have also weighed in on FDX. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price on the stock. BMO Capital Markets lifted their price target on shares of FedEx from $300.00 to $330.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Stifel Nicolaus lowered their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $310.48.

FedEx Price Performance

Shares of FedEx stock opened at $246.00 on Friday. The company’s fifty day simple moving average is $260.76 and its two-hundred day simple moving average is $273.11. The firm has a market cap of $59.25 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx has a 12-month low of $223.38 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.86 EPS. As a group, equities analysts expect that FedEx will post 19.14 EPS for the current year.

Insider Activity at FedEx

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock worth $5,682,727,000 after purchasing an additional 56,236 shares during the period. Dodge & Cox boosted its position in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. Geode Capital Management LLC boosted its position in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. boosted its position in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the period. Finally, Invesco Ltd. boosted its position in shares of FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock worth $906,165,000 after purchasing an additional 127,044 shares during the period. 84.47% of the stock is currently owned by institutional investors.

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.