FedEx (NYSE:FDX) Price Target Raised to $337.00 at Bernstein Bank

FedEx (NYSE:FDX) had its price objective boosted by analysts at Bernstein Bank from $305.00 to $337.00 in a research report issued on Friday. The firm presently has an “overweight” rating on the shipping service provider’s stock. Bernstein Bank’s price objective would suggest a potential upside of 28.92% from the stock’s previous close.

FDX has been the topic of several other research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group increased their price target on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $313.12.

FedEx Stock Down 13.0 %

Shares of NYSE FDX opened at $261.40 on Friday. The company has a market cap of $64.33 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.03 and a beta of 1.17. 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’s fifty day moving average is $293.32 and its 200 day moving average is $274.80. FedEx has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that FedEx will post 20.82 earnings per share for the current year.

Insider Activity

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction of $747,115.20. Following the completion of the transaction, the director now directly owns 14,745 shares in the company, valued at approximately $4,345,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock valued at $9,882,355 in the last quarter. 8.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FedEx

A number of institutional investors and hedge funds have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC grew its stake in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC boosted its position in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC raised its position in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the period. 84.47% of the stock is 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.