Susquehanna Lowers FedEx (NYSE:FDX) Price Target to $330.00

FedEx (NYSE:FDX) had its target price decreased by equities research analysts at Susquehanna from $345.00 to $330.00 in a report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the shipping service provider’s stock. Susquehanna’s price objective suggests a potential upside of 28.90% from the company’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group reduced their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $215.00 to $200.00 in a research report on Friday. Finally, Bank of America dropped their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $313.24.

FedEx Stock Down 14.8 %

Shares of FDX traded down $44.38 during mid-day trading on Friday, hitting $256.01. 6,226,254 shares of the company’s stock were exchanged, compared to its average volume of 1,794,393. The stock has a market cap of $63.00 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a fifty day moving average of $293.32 and a two-hundred day moving average of $274.80. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. FedEx has a twelve month low of $224.69 and a twelve month high of $313.84.

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

Insider Transactions at FedEx

In other news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Corporate insiders own 8.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FDX. SeaCrest Wealth Management LLC lifted its stake in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC increased its stake in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares during the last quarter. Ascent Wealth Partners LLC raised its position in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC grew its holdings in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently owned by 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.