Citigroup Forecasts Strong Price Appreciation for FedEx (NYSE:FDX) Stock

FedEx (NYSE:FDX) had its price target raised by stock analysts at Citigroup from $301.00 to $331.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping service provider’s stock. Citigroup’s target price indicates a potential upside of 13.33% from the stock’s previous close.

FDX has been the subject of several other research reports. Bank of America cut their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. UBS Group decreased their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Raymond James dropped their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $292.08 on Tuesday. The firm has a 50 day moving average of $275.05 and a 200-day moving average of $275.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market capitalization of $71.36 billion, a PE ratio of 18.02, a PEG ratio of 1.15 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.55 EPS. On average, equities research analysts predict that FedEx will post 19.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.