Evercore ISI Lowers FedEx (NYSE:FDX) Price Target to $318.00

FedEx (NYSE:FDX) had its price target reduced by research analysts at Evercore ISI from $335.00 to $318.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Evercore ISI’s price target would indicate a potential upside of 5.86% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James dropped their target price on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a report on Friday. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Finally, TD Cowen reduced their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.92.

FedEx Trading Up 0.7 %

NYSE:FDX opened at $300.39 on Friday. The stock has a market capitalization of $73.92 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $293.32 and a 200 day moving average of $274.80.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx will post 20.82 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock worth $9,882,355 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Institutional Investors Weigh In On FedEx

Several large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in shares of FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after acquiring an additional 5,055 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in FedEx in the 1st quarter valued at $1,667,000. Allegheny Financial Group LTD acquired a new stake in FedEx during the 1st quarter worth $203,000. Hilltop National Bank purchased a new stake in shares of FedEx during the first quarter worth $476,000. Finally, Csenge Advisory Group raised its position in shares of FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after buying an additional 298 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.