Raymond James Lowers FedEx (NYSE:FDX) Price Target to $290.00

FedEx (NYSE:FDX) had its price objective decreased by stock analysts at Raymond James from $320.00 to $290.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the shipping service provider’s stock. Raymond James’ target price would indicate a potential upside of 25.95% from the stock’s previous close.

Several other research analysts have also commented on the company. Stephens decreased their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. BMO Capital Markets lifted their target price on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.67.

FedEx Price Performance

Shares of NYSE FDX opened at $230.25 on Friday. FedEx has a fifty-two week low of $217.22 and a fifty-two week high of $313.84. The business has a 50 day moving average price of $259.95 and a two-hundred day moving average price of $272.49. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $55.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.86 EPS. Sell-side analysts expect that FedEx will post 19.14 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Amy B. Lane acquired 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $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. Insiders own 8.87% of the company’s stock.

Institutional Investors Weigh In On FedEx

A number of institutional investors and hedge funds have recently modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx during the fourth quarter worth $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx during the fourth quarter worth $234,028,000. Dodge & Cox raised its position in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider’s stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. Capital Research Global Investors acquired a new position in FedEx during the fourth quarter valued at $145,733,000. Finally, ACR Alpine Capital Research LLC raised its position in FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock valued at $239,909,000 after buying an additional 329,170 shares during the period. 84.47% of the stock is 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.