FedEx (NYSE:FDX) PT Lowered to $330.00

FedEx (NYSE:FDX) had its price objective cut by investment analysts at Raymond James from $335.00 to $330.00 in a report released on Friday. The firm presently has a “buy” rating on the shipping service provider’s stock. Raymond James’ price objective suggests a potential upside of 26.24% from the stock’s current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday. Argus lifted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $313.12.

FedEx Stock Down 13.0 %

Shares of NYSE FDX opened at $261.40 on Friday. The firm has a fifty day simple moving average of $293.32 and a two-hundred day simple moving average of $274.80. The firm has a market capitalization of $64.33 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. FedEx has a 12 month low of $224.69 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). The company had revenue of $21.58 billion during 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 earnings per share. Equities analysts expect that FedEx will post 20.82 earnings per share for the current year.

Insider Activity

In related news, Director Paul S. Walsh sold 2,535 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the sale, the director now directly owns 14,745 shares of the company’s stock, valued at $4,345,646.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul S. Walsh sold 2,535 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.72, for a total value of $747,115.20. Following the completion of the transaction, the director now owns 14,745 shares in the company, valued at approximately $4,345,646.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FDX. Scarborough Advisors LLC purchased a new position in shares of FedEx in the 4th quarter valued at approximately $25,000. Fortis Group Advisors LLC grew its holdings in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after acquiring an additional 50 shares during the period. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% during the 2nd 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. Hedge funds and other institutional investors own 84.47% of the company’s stock.

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.