Barclays Lowers FedEx (NYSE:FDX) Price Target to $350.00

FedEx (NYSE:FDX) had its price objective reduced by research analysts at Barclays from $365.00 to $350.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the shipping service provider’s stock. Barclays‘s price target would indicate a potential upside of 52.01% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price objective on the stock. Bank of America dropped their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Raymond James dropped their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Stock Performance

FDX opened at $230.25 on Friday. FedEx has a 12-month low of $217.22 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a P/E/G ratio of 1.11 and a beta of 1.23. The firm has a 50 day moving average of $259.95 and a two-hundred day moving average of $272.49.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the business posted $3.86 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that FedEx will post 19.14 EPS for the current year.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. 111 Capital purchased a new position in shares of FedEx during the 4th quarter worth $508,000. Wealth Enhancement Advisory Services LLC raised its holdings in FedEx by 69.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,477 shares of the shipping service provider’s stock valued at $21,515,000 after buying an additional 31,376 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in FedEx by 2.6% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 19,524 shares of the shipping service provider’s stock valued at $5,493,000 after buying an additional 491 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new stake in FedEx in the 4th quarter valued at about $44,690,000. Finally, Northstar Financial Companies Inc. purchased a new stake in FedEx in the 4th quarter valued at about $393,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.