FedEx (NYSE:FDX) Cut to "Sell" at Loop Capital

FedEx (NYSE:FDX - Get Free Report) was downgraded by stock analysts at Loop Capital from a "hold" rating to a "sell" rating in a research report issued on Friday, MarketBeat reports. They presently have a $221.00 target price on the shipping service provider's stock, down from their previous target price of $283.00. Loop Capital's target price points to a potential downside of 8.90% from the stock's previous close.

Several other brokerages have also issued reports on FDX. Sanford C. Bernstein lowered FedEx from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Bank of America decreased their target price on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research report on Friday. BMO Capital Markets lifted their price target on FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Finally, Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a "buy" rating and a $305.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $300.60.

Remove Ads

FedEx Trading Up 5.3 %

FDX traded up $12.25 during trading on Friday, hitting $242.58. The company's stock had a trading volume of 2,129,709 shares, compared to its average volume of 1,824,617. The firm has a market capitalization of $58.43 billion, a P/E ratio of 15.46, a PEG ratio of 1.11 and a beta of 1.23. FedEx has a twelve month low of $217.22 and a twelve month high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock's fifty day moving average price is $259.95 and its 200-day moving average price is $272.35.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the previous year, the business posted $3.86 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that FedEx will post 19.14 EPS for the current year.

Insider Activity

In other news, Director Amy B. Lane bought 333 shares of the stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company's stock, valued at $91,927.98. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The stock was purchased 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 approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FDX. United Bank bought a new position in shares of FedEx in the 3rd quarter worth $615,000. Quest Partners LLC purchased a new stake in FedEx during the third quarter valued at about $123,000. Pathstone Holdings LLC boosted its holdings in shares of FedEx by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider's stock worth $7,827,000 after purchasing an additional 586 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FedEx during the 3rd quarter valued at about $2,611,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of FedEx by 0.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 76,897 shares of the shipping service provider's stock valued at $21,045,000 after buying an additional 259 shares in the last quarter. 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.