UBS Group Lowers FedEx (NYSE:FDX) Price Target to $331.00

FedEx (NYSE:FDX) had its target price lowered by equities researchers at UBS Group from $350.00 to $331.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping service provider’s stock. UBS Group’s price objective would indicate a potential upside of 43.76% from the company’s current price.

Several other analysts have also issued reports on FDX. Stephens lowered their price target on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a research report on Friday, March 7th. They issued a “buy” rating and a $337.00 price target on the stock. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Truist Financial began coverage on shares of FedEx in a report on Thursday, March 13th. They set a “buy” rating and a $305.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.67.

FedEx Stock Performance

Shares of FDX stock opened at $230.25 on Friday. The firm’s 50-day simple moving average is $259.95 and its two-hundred day simple moving average is $272.49. FedEx has a 52 week low of $217.22 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $55.46 billion, a price-to-earnings ratio of 14.68, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm earned $3.86 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that FedEx will post 19.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John W. Dietrich acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average cost 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 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard W. Smith sold 2,576 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC increased its stake in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 52 shares in the last quarter. Transce3nd LLC bought a new position in shares of FedEx in the 4th quarter worth about $26,000. Peoples Financial Services CORP. bought a new position in shares of FedEx in the 4th quarter worth about $28,000. City Holding Co. bought a new position in shares of FedEx in the 4th quarter worth about $28,000. Finally, Kentucky Trust Co bought a new position in shares of FedEx in the 4th quarter worth about $28,000. 84.47% of the stock is currently owned by institutional investors.

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.