JPMorgan Chase & Co. Raises FedEx (NYSE:FDX) Price Target to $366.00

FedEx (NYSE:FDX) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $350.00 to $366.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 29.18% from the stock’s previous close.

FDX has been the topic of several other research reports. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. UBS Group lowered their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Susquehanna lowered their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Trading Up 0.2 %

NYSE:FDX opened at $283.32 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx has a one year low of $234.45 and a one year high of $313.84. The business’s 50-day simple moving average is $279.29 and its 200 day simple moving average is $279.60. The stock has a market cap of $69.22 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18.

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 the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the firm posted $4.55 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx will post 19.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FedEx

Several hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Franklin Resources Inc. lifted its stake 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 valued at $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. World Investment Advisors LLC lifted its stake in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock valued at $52,667,000 after purchasing an additional 183,940 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. 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.