TD Cowen Has Lowered Expectations for FedEx (NYSE:FDX) Stock Price

FedEx (NYSE:FDX) had its price objective cut by equities researchers at TD Cowen from $337.00 to $310.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a “buy” rating on the shipping service provider’s stock. TD Cowen’s price objective indicates a potential upside of 34.64% from the stock’s previous close.

A number of other equities research analysts have also recently commented on FDX. Citigroup cut their price target on shares of FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Piper Sandler cut shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Bank of America dropped their target price on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday. Finally, BMO Capital Markets raised their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Two equities research 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. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $301.67.

FedEx Trading Down 6.5 %

NYSE:FDX opened at $230.25 on Friday. FedEx has a one year low of $217.22 and a one year high of $313.84. 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 company’s 50-day simple moving average is $259.95 and its 200 day simple moving average is $272.49. The firm has a market capitalization of $55.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23.

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

Insider Activity

In related news, EVP John W. Dietrich bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

Hedge Funds Weigh In On FedEx

Institutional investors have recently bought and sold shares of the stock. bLong Financial LLC purchased a new position in FedEx during the fourth quarter valued at $391,000. Virtu Financial LLC purchased a new position in shares of FedEx in the 3rd quarter worth $3,405,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx in the 4th quarter worth $461,000. Wedmont Private Capital grew its stake in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after buying an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new position in shares of FedEx in the 4th quarter worth $26,855,000. 84.47% of the stock is 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.