FedEx (NYSE:FDX) Rating Lowered to Hold at Hsbc Global Res

FedEx (NYSE:FDX) was downgraded by equities researchers at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

FDX has been the topic of a number of other reports. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday. Robert W. Baird lowered their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday. The Goldman Sachs Group decreased their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday. Finally, Argus increased their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $312.84.

FedEx Price Performance

NYSE:FDX opened at $254.63 on Friday. The company’s 50-day moving average is $292.43 and its two-hundred day moving average is $274.85. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released 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 firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Research analysts expect that FedEx will post 20.82 EPS for the current year.

Insider Activity

In related news, Director Paul S. Walsh sold 2,535 shares of the stock in a transaction dated Friday, June 28th. The stock was 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 of the company’s stock, valued at $4,345,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at approximately $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul S. Walsh sold 2,535 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $294.72, for a total transaction 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 approximately $4,345,646.40. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last ninety days. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On FedEx

A number of hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $25,000. Fortis Group Advisors LLC increased its stake in FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth $39,000. Abound Wealth Management lifted its position in shares of 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 buying an additional 95 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

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.