FedEx (NYSE:FDX) Stock Rating Lowered by Loop Capital

FedEx (NYSE:FDX) was downgraded by investment analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $283.00 price objective on the shipping service provider’s stock, down from their previous price objective of $365.00. Loop Capital’s target price suggests a potential upside of 12.71% from the stock’s previous close.

A number of other brokerages have also recently issued reports on FDX. TD Cowen increased their target price on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Bank of America boosted their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $321.87.

FedEx Stock Up 1.5 %

FedEx stock opened at $251.08 on Monday. The stock’s 50 day moving average price is $278.47 and its 200 day moving average price is $281.61. FedEx has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a market cap of $60.47 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 EPS. On average, sell-side analysts predict that FedEx will post 19.14 EPS for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

Hedge Funds Weigh In On FedEx

Hedge funds have recently made changes to their positions in the business. IVC Wealth Advisors LLC increased its holdings in FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after purchasing an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after buying an additional 38 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of FedEx by 4.0% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares during the period. Buckley Wealth Management LLC lifted its position in FedEx by 1.0% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after acquiring an additional 40 shares in the last quarter. Finally, Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.