FedEx (NYSE:FDX) Stock Rating Reaffirmed by Stephens

FedEx (NYSE:FDX)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $350.00 target price on the shipping service provider’s stock. Stephens’ price objective points to a potential upside of 36.71% from the company’s current price.

FDX has been the subject of a number of other research reports. Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Raymond James reduced their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.24.

FedEx Price Performance

NYSE FDX traded down $44.38 during trading hours on Friday, reaching $256.01. The company’s stock had a trading volume of 6,226,254 shares, compared to its average volume of 1,794,393. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The company’s 50-day moving average is $293.32 and its two-hundred day moving average is $274.80. FedEx has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock has a market cap of $63.00 billion, a PE ratio of 14.86, a PEG ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $4.55 earnings per share. Analysts forecast that FedEx will post 20.82 EPS for the current year.

Insider Transactions at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Robert B. Carter sold 16,010 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the sale, the chief accounting officer now owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 in the last three months. 8.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FedEx

Several institutional investors have recently made changes to their positions in the company. Precision Wealth Strategies LLC bought a new stake in FedEx in the fourth quarter worth approximately $324,000. Quest Partners LLC acquired a new stake in FedEx in the 4th quarter worth approximately $267,000. Franklin Resources Inc. boosted its position in FedEx by 38.6% during the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after purchasing an additional 42,844 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in FedEx by 3.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock valued at $15,283,000 after purchasing an additional 2,051 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of FedEx by 3.6% in the fourth quarter. US Bancorp DE now owns 113,778 shares of the shipping service provider’s stock valued at $28,782,000 after purchasing an additional 3,955 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.