Stifel Nicolaus Lowers FedEx (NYSE:FDX) Price Target to $354.00

FedEx (NYSE:FDX) had its price target dropped by equities researchers at Stifel Nicolaus from $364.00 to $354.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. Stifel Nicolaus’ price target indicates a potential upside of 53.75% from the stock’s current price.

Several other research analysts have also weighed in on FDX. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price target on shares of FedEx from $320.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Stephens reduced their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, TD Cowen increased their price target on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Trading Down 6.5 %

Shares of FDX stock opened at $230.25 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. 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. The company has a 50-day moving average of $259.95 and a two-hundred day moving average of $272.49. FedEx has a 1-year low of $217.22 and a 1-year high of $313.84.

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

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the firm’s 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 sale, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. The trade was a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently modified their holdings of FDX. United Bank purchased a new position in shares of FedEx during the third quarter worth approximately $615,000. Quest Partners LLC purchased a new position in shares of FedEx during the third quarter worth approximately $123,000. Pathstone Holdings LLC grew its position in FedEx by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after buying an additional 586 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in FedEx in the 3rd quarter valued at $2,611,000. Finally, PNC Financial Services Group Inc. grew its position in FedEx by 0.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider’s stock valued at $21,045,000 after buying an additional 259 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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.