FedEx (NYSE:FDX - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $260.00 to $220.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the shipping service provider's stock. Wells Fargo & Company's target price suggests a potential upside of 7.21% from the stock's current price.
Other research analysts also recently issued reports about the company. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Barclays dropped their price objective on FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Bank of America cut their price objective on FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Cfra Research upgraded FedEx to a "hold" rating in a report on Thursday, March 20th. Finally, Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $298.96.
View Our Latest Stock Report on FDX
FedEx Stock Performance
NYSE FDX opened at $205.21 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The business's 50 day moving average is $237.90 and its two-hundred day moving average is $263.23. The stock has a market capitalization of $49.17 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.11 and a beta of 1.24. FedEx has a 12-month low of $194.30 and a 12-month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same quarter last year, the business earned $3.86 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts expect that FedEx will post 19.14 EPS for the current year.
Insider Transactions at FedEx
In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On FedEx
Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in FedEx during the 4th quarter valued at approximately $807,352,000. Raymond James Financial Inc. bought a new stake in FedEx in the 4th quarter valued at $234,028,000. Dodge & Cox increased its holdings in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. GAMMA Investing LLC grew its position in FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after buying an additional 542,605 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in FedEx in the 4th quarter valued at approximately $145,733,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Company Profile
(
Get Free Report)
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.
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